Given the elegance of this room and the overall costs probably associated with decorating it, I too would suspect that this home also has a den, family room, library or some other more casual space where a TV would be both useful and expected. That said, I continue to feel the one here placed high above the fireplace is out of place. This is not a trend I embrace. This room would be more lovely and more finished with a piece of art above the mantel... If one absolutely must have a TV in their living room or doesn't have a casual space for TV viewing, my choice would be to have the television atop a piece of furniture and not hanging from a wall, particularly a wall over a fireplace...
As for the suggestion of one large table over two smaller coffee tables, my guess is the room would simply not accommodate a large piece, given the need for people to be able to easily move about the seating areas...
In my pantry with my cupcakes...