Why not go to your local B&M store and check out the TH42PA20U from 14.5 feet and judge for yourself. Personally, I think you'll find it's too far, but who knows better than you?
I watch my 42" from around 11 feet and I think that is pretty much the limit. But then again, it's what you're used to. If you're already watching a 27" CRT from that distance, it may seem huge.
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