I am actually in the same boat. The problem is the room was set up with the fireplace as the focal point and for the TV to sit on, i.e. cable connections are there. The solution I am looking at involves getting a keyboard stand with a top level that can be angled so i can point the center channel towards the seating like this
http://accessories.musiciansfriend.com/product/On-Stage-Stands-Deluxe-X-2Tier-Keyboard-Stand?sku=450339&CJAID=10451188&CJPID=3136390 As a result, the center channel will be approx. 10ft above ground level, but the center channel will be pointed directly at the sitting position. Furthermore, as the height of the stand is adjustable, it can be set up, so only the center channel is visible, with the rest of the stand hidden behind the TV.
Luckily for me, we dont ever use the fireplace, so the heat issues involving longevity are a non-issue. Also, moving the TV off of the fireplace is not conducive as cable lines would need to be hidden for a large distance. Yes a phantom center is possible, but as the wife and I constantly watch movies, I would like an actual center channel to improve dialog intelligibility
As for the LED tv comment, I actually have an LED tv too. In know is actually an LCD tv with a different lighting strategy, and not actually LED's, but considering that's what the industry as a whole calls them, its understandable he would use the same term.