I only ever saw one rear projection TV in my life, and it was owned by the biggest sci-fi and anime nerd I ever met. It was a fantastic looking screen though, compared to the CRTs of the time.
I have a similar setup, but use a Nintendo 64 with MarioKart to make the workout go by faster. Just play through every stage on expert, and it adds up to an hour on the bike, that you don't really notice because you're too busy yelling at that little cunt Toad