You have your thoughts correctly aligned. There is no need for 1080p in 32" size - you will not know the difference. Lest one forgets, 32" is same size as 29" considering total area. Even sitting as close as 4', you will not make out much difference other than letters/text.
In fact, there is no need to go with LED lit models either. Plain CCFL LCDs will also do nicely. Since you are looking to upgrade in 3/4 years time, why waste money now? I would say stick to a budget of 28K or lower.
