Just looking for something for the living room and our games machine (havnt decided yet X1 or PS4).

Are there any good budget options out there and what should be our main priority in this price range?

Size isnt hugely important vs image quality, is it possible to get a smaller smart TV for this price? We arent even sure if Smart TV is worth the extra cost.

Apologies for the ignorance, havnt bought a TV in years.