For under $200 it's pretty much a crapshoot as to what you are going to get. Although that doesn't seem like a bad deal, you also can't be misled by Amazon claiming it's 49% off. That TV is probably pretty standard to find under $200 at least, I doubt there is ANYONE selling it at $349 (their claimd MSRP).
Do you live in a dorm or something? I could understand wanting a cheap TV if you live in a dorm, but if not then it might be a good idea to save up and try to at least get into the $350-500 range. Bumping up that relatively small amount (albeit double what you are thinking) makes a HUGE difference because then you can get into the 26" or 32" inch class.
I actually brought home a 26" Vizio Razer LED I bought for a bedroom simply because it was on sale (for $250), I was so unimpressed by it once I hooked it up that I took it back same day. I started researching TV's from square one and doubled what I was willing to spend, ended up getting a Sony LED (EX700) which has been great for over a year now. You can probably get a 26" or 32" inch Sony or Samsung LCD (non-LED) for the $400 range, maybe $300 range if you're going 720P. 720P is all you need for PS3 gaming anyway, but for movies and "next gen" consoles 1080P would be ideal. However there's less point of having 1080P on such a small screen.
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