Here's my suggestion...
Get yourself a computer monitor with 2ms refresh rate, 22-23" screen, LED backlit, with hdmi input. Costs $200-300 depending on quality.
Reason: it's easier on your eyes and less video lag, sharper images.
I played on 80" projector, 52" LCD, 52" LED, 22" LCD, and hands down the best performer is the 22" LED.
I have headache playing on any screens larger than 40" over 1hr. of playtime. And the new HDTVs with 120-240hz even using "game mode" just doesn't cut it.
Bonus: with 22" LED screen you could move it to another room if you are worried about waking up the baby or you prefer to play while sitting on the toilet.
Keep your plasma tv for movies/tv shows.