Simple question, but many complex answers. Hoping for some advice!

So the deal is this: I have my current Samsung 22'' Widescreen LCD and it's great. The issue is - I recently got a PS3. So my current setup has the monitor running on my PC's VGA connection, but whenever I want to play my PS3, I have to get up and swap the cables at the back of my monitor (it only has 1 VGA out, and no HDMI). Also, being a 16:10 native, some of my games look a bit stretchy (my monitor is older model so it doesnt auto-correct the image to 16:9)

So what should I do? I have 2-3 options I think.

1) I get a new monitor (with 1 HDMI and 1 DVI) that supports 16:9 and hookup my PS3 to the HDMI port, and my PC to the DVI port - from there switching between them is a simple button press. This solution will require me to sell my old monitor though, which could be a hassle (its an older model). Also the 16:9 resolution could look bad when gaming on PC (though I am sure I can find a monitor that can do both 16:9 and :10 properly depending on input source)

2) I do part 1 but also keep my current monitor. A bit of a "rich guy" solution, but if I go dual - my desk space will decrease quite a bit, I will have spent quite a bit of money, and i'd need to get a VGA splitter if I want both monitors to run my PC desktop (I dont want to get a monitor that will ONLY be used when I am gaming on PS3)

3) I suck it up and save money

Please advise! Im leaning towards options 1 and 3 right now.

EDIT: To expand my search for advice, started a thread here:

http://www.gamespot.com/pages/forums/show_msgs.php?topic_id=26966995&tag=topics;title