46" is a standard size

LGs are probably the best bang for buck
Samsung is my default brand for TVs now
120Mhz refresh rate is the lowest I would go but I think 240 is overkill and the LED is overpriced at this point. If you don't need cutting edge technology, I would recommend a 47/46 LCD with 120Mhz and 1080p output.

I bought a LG42LH50 (42") and I'm very happy. You could get the 47" version and pocket the difference.