...about 10'-11' from the main seating area, in a basement with almost no direct natural light sources to contend with; wall mounted.
I've yet to buy the surround system, though I've pretty well decided on an Infinity TSS 4000 system of speakers & the top of the line Harmon-Kardon receiver ( both available thru Direct Buy, of which I am a member - great savings available there, but the selection of hi-fi is sadly quite limited ).
Thanks for your assistance!
DSD
Take a look at:
http://s3.carltonbale.com/resolution_chart.html
And the full article:
http://www.carltonbale.com/2006/11/1080p-does-matter/
Or the same information in a somewhat easier to read chart:
http://www.soundandvisionmag.com/assets/download/0602_tech_talk2_large.jpg
At a distance of 10 feet, you will not see the difference between 720p and 1080p unless the screen is larger than 50". And this is assuming you have an actual 1080p source; upconverted lesser sources will make less difference. And it is also assuming you have 20/20 vision; if your vision is worse, it will need to be even bigger for you to see any difference. With a 50" TV at 10', it is impossible for a human with 20/20 vision (or worse) to see any difference at all between 720p and 1080p.
Now, of course, one must also consider other qualities of a TV, as resolution tells you nothing about color accuracy or any other such things. This is why, for example, in reviews by people who pay attention to such things, sometimes a 720p set is rated more highly than a 1080p set. Of course, if the 1080p set is better in such ways, then it would look better.
So, if the only difference between the two sets is 720p vs. 1080p, and if they are both 50", and if you will always be viewing it at 10 feet or more, then buying the more expensive one gets you absolutely nothing for your money. In which case, it would be much smarter to buy the less expensive one and spend the extra on things that do matter, like better speakers. Or, invest the saved money wisely, and then you will be one of the first to own an OLED set for your next TV, after they "perfect" them.
But if you like to throw your money away for nothing, but want to be able to brag to all your friends that you have "full HD" 1080p, go ahead and waste your money that way.