Ok, folks,
For a year and half, I have PS3 game console that can play BD and DVD movies. BD stands for Bluray disc. Some BD movies has closed caption that worked so well with my current NTSC TV (480i) via PS3 player and video component.
Now I have Dell 24" LCD monitor that has very high resolution like 1920x1200. I installed PowerDVD Ultra software and its pictures looks so razor-sharp like going to the movie theater. My laptop has 1920x1200 HDTV-like LCD monitor as well.
I already started to build my BD movie library while I continue to buy old TV shows like Emergency!, Mission: Impossible, etc in DVD format. New TV shows like Heroes and Lost come in BD format right now.
I hope that future HDMI cables would support closed captioning for HDTV monitors. Only video component cables (up to 1080i) supports closed caption signals at this time. According to my Video Demysified book for video programming, it said that MPEG4 for HD videos does support both line 21 and digital CC. Through MPEG decoder software/hardware, it will convert CC packets into line 21 or digital CC signals before go to HDTV or NTSC TV monitor.
Tim