Just food for thought...
We're continuing to use old things that work for now: a small Shaker-style piece of furniture upstairs (has TV on top and VCR, etc on shelves below), and a small entertainment center in the family room. These are nothing fancy, but we believe the new flat-panel TVs eventually change how decorating around 'entertainment' is done!
"Now" obviously is not the time to "decorate" using a flat-panel TV...at several $1000, duh! But as their price comes down--as well as "need" for their features (such as high definition--which is incompatible with current TVs), the future will tell a different story. So, I think one of today's 'entertainment centers' (with the big deep hole for a large TV) will look strangely obsolete in a few years anyway.
Right now, men may be the ones clamoring for flat-panel TVs (you know, for those critical football games!)--but I think in a couple of years women will be asking for them--when they figure out how little they take of a room.
Obviously you need to find something more attractive than what you have today. But with what I've said in mind--and since cost is an issue--I'd recommend a small (2-3 shelf) piece of furniture--perhaps unfinished--that you can put a TV on top. Use for about 4-5 more years....then scrap it (or relegate to other uses) and redecorate in earnest then!
Obviously a "man's opinion"--but one who realizes the importance of the home to a woman--so please take what I've said in that light. I have no doubt you'll make a big improvement! Good luck and welcome!