By definition:
a 42" ED blah,blah is 852x480 or 408,960 pixels
a 42" HD blah, blah is (generally) 1024x768 (720p) or 786,432 pixels
a 50" HD blah, blah is (generally) 1366x768 or 1,049,088 pixels
For a 42" HD you have nearly double the number of pixels in the same space...so SDE probably will not be evident from ~7' as SDE on an ED is barely evident, at least to me, from that distance.
You need to determine a few things:
1) can you see SDE from your viewing distance?
2) does it bother you if you can?
3) does the price difference matter? And if so is it worth it?
4) does HD look better on an HD as compared to an ED and if so is it worth it to you for the amount of cost difference?
Remember, generally, "bigger is better". You wouldn't want to purchase a unit that you wish was larger by not going bigger (this one happened to me).
But you really need to go see as many as you can with different source material (take some DVD's you know ask to switch to an SD feed...if they don't have one ask them to hook up a VCR and bring a tape. Not the same but probably the worse signal you can send any display device). All they can say is "No".
Just my .02