OK. This article is flawed and many of the comments are just as flawed. Having been involved in the design and manufacturing of LCD displays (down to writing all FPGA image processing code, scaling, deinterlacing, etc.) I think I can say that none of this is accurate if the intent is to apply it generally.
Caveat: If you buy a TV don't expect it to be a computer monitor. Most TV designs are just that: TV sets. They are made to do one thing reasonably well: Take a crappy satellite/cable/whatever signal and give you a reasonable image back.
EDID can be programmed with any resolution you want. Do you need 921 x 333 at 12 frames per second? No problem. There is no such thing as a resolution not being available in EDID. Standards are one thing, but the EDID mechanism isn't inherently limited by standards.
BTW, there are commercially available EDID modifier gadgets that allow you to modify the EDID readout from the monitor. So, the monitor says one thing and your computer (or whatever device) receives your programmed values.
If you need a TV that will play nice with a computer you need to find one that was explicitly designed to do so.
Most consumer TVs use one of a very few commercially available processor chips to do their image processing. With a few exceptions they all do the same kinds of things. And no, the signals are rarely converted to YCbCr 4:2:2 internally but for the absolute cheapest and crappiest of processors. All the good ones convert the input to a common internal integer RGB format. The nice ones might standardize at 12 bits per channel (36 bits total) internally. When I did custom FPGA video processing we went as far as 24 bits per channel in order to avoid truncation of calculated values until the very last moment. This can make a huge difference depending on the application.
In general terms "monitor mode", if you will, should be a mode that bypasses as much of the internal processing as possible. You can force this bypass by using and EDID modifier gadget programmed for the actual resolution and timings of the panel. In other words, open the back of the TV, get the panel model number, get the data-sheet and program the EDID modifier to output these values to your computer. The processor should push this straight to the panel and you get very little, if any, processing. Again, this does not work on all TVs. As I said before, they are designed to be TVs, not monitors.
That said, I've connected many computers to off-the-shelf, un-modified, consumer TVs via DVI and HDMI. I have yet to run into any real issues.