I was also looking to get a TV for my bedroom. Would have gone for a 64" plasma considering I love my Samsung 51" Plasma.
But after going through all these posts, I might just go the projector way. We are currently building the second floor of our house and there is a plan for an attic above that. I am thinking of converting that into a projector room instead of a child/guest bedroom. Cost will be in the same range as that of a 64" TV and having played games and watched football matches on basic projectors during college, I know that I would prefer that experience over a TV.
Time to do some research on projector setups.
I already did the same, I own a optoma HD 20 which has aged gracefully in 4 yrs, needs a lamp replacement now. I plan to upgrade to BenQ w1070 with 3d capabilities. My new home will be ready in 4 months, dedicated a bedroom for home theater, play area, mini bar etc...
BenQ has a Short throw model w1080, which can project for less than 6 ft! Many other manufacturers have competing models.
Size of the room doesn't matter anymore.
Clear wall requirements can be adjusted with a foldable projector screen instead of Wall. High gain projector screens cost around 6 - 12k
The motorized projector screens cost above 25k! The slow folding and unfolding of a motorized projector screen itself is charismatic. The high gain component enhances contrast ratio & overall PQ.
The eye strain part is actually more with TV if you watch for extended periods with dark room. It's unfair criteria for comparison sake.
@OP if your watching is less than 20hrs a week (mine is less than 10), mostly movies and live matches with friends, you want a best possible visual experience and you have another TV for cartoon network & Ekta Kapoor fans,
You're better off buying a projector.
With 1 lakh budget consider the projector HD 141x Optoma @53k and invest in high end surround system (actually basic setup from audiophile perspective) like Definitive Technology 600series or 900 series home cinema at 45k & decent AV receiver 20k.
Or buy BenQ w1070 & defer audio upgrade till next opportunity.
If you want to go TV way get the Vu 55" @ 45k & invest rest amount in high quality home theater as mentioned above. You don't need 4k at the moment HD is enough.
Having a good audio and surround sound enhances your movie experience by many fold. So invest in a good audio system and speakers, it's one time investment and lasts for years.
For audition take your routine content (audio, video files) in a pen drive and play them instead of what the showroom people show you.