APStyle,
The 26" Philips telly you got, is it 720p, 1080i or 1080p HD resolution? I have a feeling at that size screen it's a 720p. Pixel resolution wise, is it a 1366x720/768 res? if so, you've got one of the 'basic' HD telly's and in a couple years time, it wont be 'very' desirable in terms of resale (although more than a standard res telly of course!)
If it's a higher resolution, say 1920x1080 then you've got one of the highest/potentially best HD screen spec telly's. As you say, there's not much content even on Blu Ray or HDDVD discs at the moment to show that resolution but the list is growing. Currently, for LCD screen's the 'best' is 1080p for which there aren't many screens on the market and cost alot of wedge!
My matey picked up and just installed one of the top end Sony 1080p 46 inch LCD telly's for around £3 grand and we watched some HD content via Sky HD and it was phenomenal! although as it's not 'true' 1080p quality, we were able to pickout some of the pitfalls of pushing non 1080p res content through a 1080p screen - these show up as tiny 'black dots' and to further test, sometime soon he's going to get hold of a true 1080p encoded DVD of one of the better releases of a film. Overall, this level is the most far reaching 'I'm ready for HD' you can currently buy.
It's sad becuase there's alot of people out there buying 'HD Ready' tv sets thinking they're getting true HD when they are not, if you look at some of the top end Plasma screens, they only offer 1366x768 pixels which is quite a long way off the 1920x1080 needed for 'current' true HD
even so, if yer happy with yer set then all is good! and although I haven't got time for gaming, I'll probably still get a PS3 just to play Gran Turismo 5 which will offer true 1080p HD output !!
I was very impressed with GT4 on PS2, so GT5 on a PS3 should be astounding!
Hope you can get some sort of HD signal to watch TV !
DtM! West London & Slough UK!