Such a setup isn't cheap, but it's far more reliable and space-efficient than a giant CRT.
That said, I still generally prefer to use my PVM CRT monitor for gaming for reasons already discussed in this thread. It really can't be beaten.
TVs are especially bad, in the default mode some of them have ~200ms input lag. "Game Mode" usually brings it down to more like 20ms though.
Edit: did a google, don't know how accurate these are: https://www.rtings.com/tv/tests/inputs/input-lag
It seems most get under 20ms lag when put into game mode, which I'd think is what matters to most people. At that point, when it isn't daisy-chained with any other lag (so a wireless controller delay will make a difference), it's imperceptible to me. I am not a professional gamer though, and from what I understand the higher refresh rates that pro gamers use (such as a 240 Hz monitor) have measurable improvements in their performance as gamers.
This seems to just be TVs too - monitors get much better numbers. I find higher input lag to be much less of an issue when using analog sticks vs a mouse.
For me at least the difference between ~2ms and ~10ms input lag is very noticeable when aiming with a mouse, but basically imperceptible with say a wired 360 controller (I'm assuming the 360 controller isn't adding significant input lag itself though).
A 20ms response time still means the signal is dropping every fifth frame in a 60 fps game.
Could you reword this?
Many TVs buffer several frames for video processing in their default mode, which is why they can have 100s of ms of latency when not in game-mode; the response time is identical regardless of which mode it is in though, as the response time is purely a property of the panel.
An excellent gaming screen like a PG258Q might have GTG of 1 ms but at the full 240 Hz it still has about 5 ms of input lag.