Buy LED, LCD or Plasma

esp. if your room is dark and/or you'll be viewing at an angle, generally speaking plasma still does look better. panasonic or samsung--look at dealmac or bradsdeals to find the best online deals on a daily basis

Plasma.

Plasma has the most natural picture and best viewing angle. Although viewing location is not quite as critial as speaker placement, you may consider placment in front of the fireplace using the table stand. Above the fireplace installs look nice when the television is not being viewed with programing but the best TV viewing location is close to eye level. That being said, if you do consider my suggestion, the new LED backlit LCD's are extremely light in weight and can easily be moved by one person if a fire was desired on a cold winter night.

If you put it above the fireplace you have 2 problems. Looking up at a screen is not a good idea for extended viewing sessions and it looks like you would be sitting too far away to see the detail on anything but a huge screen.

What are you tying to achieve? Some casual viewing or a home theater experience. I can't tell from the picture how far it is from your seat to the fireplace but just guessing it is about 20 feet. For a total immersion experience it is generally recommended to sit 1.5 to 3 times the screen width away from the screen so you are looking at a minimum of about a 6 foot wide screen. That's about 80 inches diagonal. Above 65 inches flat panel TVs are very expensive so you should consider projectors at that point, but 65 inch TVs aren't that bad with some coming in at less than $3,000. If you want home a theater a better idea would be a projector with a drop down screen between the speakers.

LED tv's have a dramaticly different look to the picture than most tv's. Perhaps its their very high contrast ratio with boasts of 2,000,000 to 1. The clarity is huge, but it looks unnatuaral to my eyes, and over time, became a source of distraction. I notice in tvs ads that they are describing the image as hyper real. Make sure you give it a good demo or check one out at someones house first tro see if you like it.