You can get some fantastic LCD sets for that kind of money. TBH pick a maximum size you want, choose a HQ 720p set over a 1080p if its 32" or smaller (I know how far back you need to sit in your house
) and go with some recent review threads/recommendations from the ultra-geeks on AVForums. Your best sets will be Samsung or Panasonic really, go view some once you have a few sets in mind just to get the deciding factor. Id highly suggest going with John Lewis when purchasing for the 5 year warranty.
Thats all there is to it