I would say if you can afford it, get it. It sounds like your current tv is not still functioning properly if you can't read the stuff off ESPN! I completely understand the desire to keep electronics until they die becuase I am like that. I was actually mad when my 10 year old 19 inch tv died a few years ago. I was lucky/unlucky enough to have my main living room tv, a mere 7 years old!, break last year. I waited 6 months or so to replace it and bought a 40 inch led in December. The picture is gorgeous! I love it. I bought an over air antenna and the signal looks great. 40 inch is fine for me and the room its in, but if you have a big room I would go a little larger. Stands can be had for pretty cheap. I bought mine at Target half off, but when I was in college I bought a cheapy stand from ikea for 20 bucks and that thing worked forever. If you aren't ready to buy a stand you could always buy or find one used or off freecycle and use it until you find what you like.
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