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SvennoJ said:
Instead of 48" 4K, why not go 120" 1080p. Projectors aren't that expensive anymore and quite good for gaming nowadays. For example Optoma GT1080 currently $699
http://www.projectorcentral.com/optoma_gt1080_projector_review.htm
http://www.bestbuy.com/site/optoma-1080p-dlp-gaming-projector-white/1584026.p?id=1219503833396&skuId=1584026

4K console gaming isn't going to happen anytime soon. Current 4K UHD blu-rays are mostly uprezzed from 2K masters, no real improvements in resolution, only color reproduction. However HDR standards are not yet set in stone with various formats competing, and current displays can't even fully render rec.2020 yet.

Buying an affordable 4K TV now, will very likely set you up with one that won't be able to display the full 4K blu-ray spec. That 48" Samsung doesn't advertise with HDR nor 10 bit color, meaning the best feature of 4K blu-ray, the increased color range, can't be displayed.

If you really want a 4K tv now, make sure it has HDMI 2.0, HDCP 2.2, HDR and a 10 bit panel.
http://www.wired.com/2016/01/what-is-hdr-tv/
Their advice: Sounds Messy. Should I Wait? Yeah, probably.

This. THIS. And MOTHERFUCKING THIS. 

6 months ago I had the same desire to upgrade my 42'' TV. It was great at the time, but I was being suckered in with all the 4K on the cheap hype. Its all BS.

Get a projector, and watch movies / games on whatever 100'+ screen size you think is comfortable. 

Also good to see someone else who knows about blurays and how they are formatted. Hundreds of some of my favorite movies I have yet to own because they still have a ghastly 2k tranfer. Its pathetic. Notice how a lot of movies are now being ''rereleased'' with 4K tranfer being the selling tag, despite plenty of movies being released from 4K or sometimes even 8K tranfers. 

Playing Vanishing of Ethan Carter and SOMA on a 129'' screen was incredible on 1080p or even 720p at MAX. Super immersive. 

Get yourself a projector. Paint the walls dark is you have to and sit back an enjoy. You shouldn't worry about 4K because, well simply put, the industry doesn't care about 4K either. The manufacuters know 4K is a dud and want to shift stock to make room for the next gimmick.