I would suggest saving up for the TV. If you wait until early summer (April-May) many companies will have their new series of TV's coming out and you will find clearance prices on the old ones from the year before.
Just keep an eye on the prices and how they are moving and you may find a good deal ahead of time.
I bought my TV in Oct 2008 and found it on sale for $1,500. It was the current model for that year. I continued to watch the prices on it just to see what would happen, and it dipped down to about $1,300 - $1,400 once in March, then when the new models came out it dropped to about $1,200, and once on clearance around $1,000.
Now I had already had it for 6 months + by the time all of these clearances went on, so I feel that I had bought it at a good time and didn't mind the extra I had paid for it when I also considered the time factor as well.
Start your research now and try to find the perfect TV for you that has everything that you want. I did, and I'm enjoying every moment of it. I don't even look at the new TV's because I don't feel like I'm missing anything in that department. Though I may be in the market for a second TV soon for upstairs..........