LOL, when I asked this question, I thought that there was a simple answer that everyone would agree on. Wow, when it comes to the exciting world of home entertainment, I was clearly wrong.
Interestingly, I would never have even gone here, but the family room already has wires pulled for the speakers, as well as the cable hookup, all oriented to the space above the mantle. As pointed out by some respondants, this is probably a decorating exegency. It's too bad really, whacking the thing over the fireplace would give me a lot more room and make life easy. C'est la vie.
Has anyone seen a mounting for a flat screen that pulls out and drops down a bit, kind of on hinges, that would solve the problem totally?