I recently got a U2711, and use it for watching film/tv quite a lot, haven't watched any standard definition content on it yet really, but it's fine for watching stuff on, when watching something on it I'm a couple of feet back, not sure, probably 2-3 and it's good.
Current specs are a llano based setup, with a GTX570, 256gb M4, 4 x 2tb hdds, Asus Xonar Essnce ST (soon to be replaced by an E7/E9 combo) all in a fractal arc mini (cpu cooled by a 240 rad in the roof)
Plugged into that are my monitors: a U2311H in vertical on the left, then a U2711 as my main (in horizontal :P)
Speakers are a pair of SOLO6Cs, headphones are DT770 pros.
Keyboard is a KBC Poker with cherry blacks, and mouse is a CMStorm Sentinel Zero-G
However I'm in the process of upgrading, downsizing and going back to air cooling (well, going to use a H70) since it's just less hassle when moving it to/from uni.
Just picked up a Lian Li V351, will be putting a mitx board in (not sure which yet), i7 870, same drives, gpu etc.