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If you are talking 55" display with 12 ft. viewing distance, then you could even get by with a 720p display.You would have to sit 7.5 ft. away to start seeing benefits of 4k, & that's if you have 4k material ...
I think that's equivalent to saying there's no need for anything other than zipcord for speaker wire I've been impressed with the 4k TVs I've seen even at >7.5 ft and <55"--very film-like and engaging. The reason I decided not to go that direction was lack of media and Sony was the only company making a player, but that may have changed in the last year.
Brooklyn, not sure which model you're looking at, but got this email promo today. FWIW, I bought my last TV from Tiger Direct...no issues.Heck, you could get two for your budget! http://www.tigerdirect.com/applications/searchtools/item-Details.asp?EdpNo=9696028&sku=UAM-102926930&SRCCODE=WEM4581BY&utm_source=EML&utm_medium=main&utm_campaign=WEM4581&cm_lm=1892c84a3b694b70134e78eb2ebb9eab
The question really is: Using the same media source can you tell a difference between 720p/ 1080p/ 4k for a 55" display at a 10- 12 ft. viewing distance ? I would argue that all (3) resolutions would look good at that distance, & that you couldn't tell the difference.When I looked at plasma displays in the brick & mortar stores, I took a tape measure & set the viewing distance to match my Den set-up, adjusted display settings off torch mode to more natural settings, then compared different resolutions/ display sizes.Here is an article by Carlton Bale re: does 4k resolution matter: http://carltonbale.com/does-4k-resolution-matter/
I'd get the 1080p because it's cheaper and a mature technology, which means there aren't going to be any massive improvements to the 1080p technology within the next year or 2.4k on the other hand is more expensive because it's new. But it will also go through several technological improvements over the next couple of years, as all technology does. I'd wait for those improvements to happen and for the prices to drop a bit before investing.