I know that Samsung's new, high-end stuff is all really, really nice. I've seen the 53H version of the 40 inch TV and it's damn good. Very sharp, great color, good black levels (given that it's an LCD.) Looking at the specs, yeah, that'd be a ridiculously good choice. It's got sufficient inputs, the resolution's right (considering that 1080p is irrelevant at that size), and everything else seems to be quite good as well. No idea how Samsung's new TVs perform with SD stuff as all I saw was an HD demonstration, but SD hasn't been a problem with their TV's in the last couple years so I'd assume it'd be very good as well.
But yeah, I can't imagine being without a TV that does a good job with SD content since barely any of the stuff I watch/play is actually in HD... can't see that changing for a couple years still either.