Up close it likely isn't that great looking. I have seen some of the LED signage technology and it is very, VERY cool. But, at 10 or 20 feet away you can still see the individual pixels that make up an image. It is designed to be viewed from 100+ feet away. So, not ideal for the living room - even if it's just a corner of it.
Can't imaging what the actual resolution of that thing is. Would love to dig into the innards of what they are using to process the video and everything else for it.
Good stuff!