DLP is the way to go. It mounts on the wall if you can still get one of these.
Agreed. BTW, nice console.
Here's a snapshot of mine in my townhouse.
It's a lot cozier with the lights turned down.
The corner worked out to be the best place for it and not caring much for the current furniture selections for corners, I went with some old steamer trunks I already owned.
The plasma is a 'Maxent', a no name with Panasonic components on the inside. I'm using a Yamaha HTIB for the audio and the video is from Time Warner and their HD DVR box. I splurged on a Harmony remote to control everything.
I did most of this on the cheap, including a 6' ropelight behind the plasma for 'ambiance'.
A recent addition is a set of Sennheiser HDR 130 wireless headphones. The subwoofer on the Yamaha was causing a lot of problems with the neighbors.