I updated my post to include the missing link. I meant to have the link lead to monitor I was thinking of getting, but in my haste I left it out.
For a display that size you can sit a lot closer.
What you should try and do is get as close as possible so that you have a sense of immersiveness - being in the game as opposed to just being a player. Put another way, try to fill your field of view as much as possible.
This is where a bigger screen is helpful because you can achieve that without being right on top of it. In a perfect world we'd all have displays that enable 1:1 scale images - big enough that if a car is on the screen, like a Chevy Impala that's 16 3/4" feet long, the screen would be larger to fit the whole image in real world scale and then some, like 20' wide.
When your that close, consider that you might not be able to see the corners of the image where important info may be, like time, score, etc.
One additional consideration is being so close that you see the pixels, which generally is not desirable.
When looking at displays also check the refresh rate. For LCD/LED try to get 120Hz or better.
Having said all that, remember in the end it's your personal preference.