Any TV will do. The Wii offers only a lowly 480p HiDef mode. Its the low of the low, so dont worry about buying something Hi-end to optomize your Wii gaming, its a waste.
The USA/UK standard def. picture is based on NTSC/PAL. In both cases this is an interlaced signal of 525/625 lines, ie the picture is painted on screen in two sweeps, odd numbered lines & then even numbers lines.
480p maybe the low end hi def format, but it's still progressive & so paints each line on screen in one go.
A fair comparison would be to assume 480p would be similar to a 960i format - yes i know 960i doesnt exist, but its an easy way to see that 960i is a lot better than 525i.
However you carve it up, 480p is whole lot better than a standard def picture.
You'll need a TV with a component interface & one that displays 480P & the Wii will be a lot sharper with more vivid colours. Fortunately a lot of the cheaper LCDs/Plasma's, display 480p & so you wont need to spend a ton of cash buying a Full HD/1080p panel.. A smaller resolution will suffice ie - 1280x768. Its that second figure your looking at, as long as its more than 480, it should display 480P but you should check this prior to purchase as some may not.
Take your Wii + Wii Component cable along to your local TV shop & get them to plug it in & you'll see the difference.
I reckon the best budget TV for the Wii has to be a 26" LCD TV, good enough size, and its slim profile means you can put it right against a wall and have more space to swing the remote around in smaller rooms