Yes 10 ft away is too far for a set that size. I sit 10-11' away with my 65" plasma. I was using a 26" LCD for my PC monitor and I was sitting within a cpl of feet. But since you have a Blu-Ray player, you'd probably want to take advantage of that and get a 1080p TV. I would personally wait until you can afford a 1080p or bigger set.
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