Well, I did the test... hooked up the PC-FX using S-video to my son's old CRT TV and selected Team Innocent to view (since I've been playing this one the most recently). To be honest, there wasnt much of a difference between that picture and what is displayed by my Samsung LCD using some cheap composite cables. The only noticeable difference, is when the title screen is up, and the phrase "The point of no return" seems a tad bit less pixelated on the old CRT. This, of course, could also be to the older TV's smaller screen size (40" vs 27")
I do have my LCD's settings optimized to the console (even viewing in 4:3 mode instead of 16:9). Perhaps with a quality set of composite cables, the aforementioned script on the newer model will match up with the old one. Or perhaps, I could purchase an adapter cable similar to the one Ji-L87 linked to and convert the S-video signal to component (which the LCD has). Of course, it would be a no brainer if the Samsung just had a damn S-video hookup. Oh well.
Conclusion: I didnt notice a immense difference to warrent changing out my LCD setup for a CRT one at this time