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First off, check as many reviews for that unit online as you can. Then go bug the guys at your local BB. See it for yourself, and remember: the way it is set up at the store is nowhere near what you could possibly get out of it at home. Screens are always too bright, color set too high, etc. The idea is that the brightest, most colorful tv will stand out in the showroom.
Next, decide what you will do more: watch tv or watch movies. If its tv you favor, maybe put a few extra dollars of your budget towards the tv. If its movies, maybe shift some of those dollars to the audio system.
As for audio, there are few, if any, discounts on decent audio gear. That's just the way it goes.
Sounds like you may already have a DVD player? A cool tweak when you get your new tv is a good video cable. They can often mean the difference between a good picture and a wow picture. Try Tributaries, for instance, at Audioadvisor.com. I've purchased various items there and they are known good.
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