Could be a nice setup. the one issue I can see is that you will not get your 4 toons on the TV at 800x600 as even of you have a 1080p set the best resolution you will get is 1920x1080. normal 720p sets run at 1366x768 (or something similar)

960x540 should look good though or 864x540 if you want to keep a 1.6 aspect ratio for widescreen (some Ui's are quite funny unless you get the correct aspect)