No. I have a 42" in a slightly smaller room and my next screen may well be a 50". They soon shrink after you get one.
However, it depends on what your priorities are. If how the room looks is most important, then you may feel that a large screen is not so aesthetically pleasing. However, if quality of entertainment is most important, then get the biggest and best you can afford.
But do bear in mind, that the closer you sit and the bigger the screen, the more artefacts you will see. I sit 9 foot from my screen and I find no problems (apart from vastly compressed Digital Cable programmes which were also bad on my 32" CRT).
If you are sitting 12 ft away definitely go for the 42 inch. I am sitting about the same distance away from my screen, the closer you go to it the more artefacts you will see. My closest chair is about 3 ft away and the picture is still perfectly watchable from this distance with hardly any artefacts.
That was tongue in cheek, but with a serious point. You get used to it so quickly, a 42" does indeed shrink on the wall, and if you can afford bigger and not get divorced, then go for it now, buy once, do it right.
I have just taken delivery of a panasonic TH-50PHD7with a veiwing distance of 12'
Been up and running now for 2 days and I'm glad I went for the 50 rather than the 42 which I considered
My advise - if you can afford it buy the 50
Hi Kris - No to your question - although I have taken the advise I received and "running in" for 200 hours - contrast/brightness/colour all set at -10 so no high contrast levels at the moment. Running Toy Story 24 hours a day upto 70 hours now.
Have to say I've taken a look at settings all set at 0 and - WOW mind blowing.