LCD flat monitor vs. a CRT 'chunky' monitor... I must say there is a HUGE difference.. not only in size but in quality of picture and eye strain! LCD's are soooo much crisper and easier on the eyes, they also don't radiate heat as much. If you use an LCD flat monitor you'll never go back to a CRT one, and when you do the CRT will look blurry and nasty once you get used to the LCD
Other than that, size is of course an obvious advantage. However, I've seen people in dorms with a CRT monitor in the corner of their desk and it fits just fine. So it isn't an issue to bring a CRT. I'd buy it not for the size, but because it will save you a lot of late night headaches when you've been staring at it for hours typing up an essay paper since LCD's tend to cause less headaches (at least for me!)