12' away is about where I sit and I would struggle with anything less than 60", which is why I ordered the 61" Samsung LED DLP. Between the 40" and 50", I would opt for the 50", but this is ultimately going to be a personal decision that only you can make. Either display will be larger than your 32" Wega.
We've got the 50" model at a price I've not seen any lower anywhere at the Shack Store...
Samsung HLT5087SAX 50" Slim LED Engine 1080p DLP HDTV $1418 Shipped