yes, you just switch between inputs on the tv. I'm doing something similar right now with my Sony LCD.. it has a DVI and a VGA. I have one hooked up to each computer, and I just hit the input button and it switches between either.
I have DVI and VGA inputs on my 20.1" Westinghouse, and I have the connections split between my gaming rig and my file server. Of course, I am also pumping a Viewsonic N4 Video processor through a passthrough VGA connection as well (just to be complicated), but that's another story.