What will look best and give you the right layout is the sectional for the big 72" TV going on the wall above the fireplace. That with a cocktail ottoman is just about perfect. The chair opposite is something you can add in at a later date to anchor in the look.

I hear you on the budget struggle. That's something only you can decide upon. I'm going through that myself right now with a mountain bike (laughing). I really want a Pivot Trail 429 or Yeti SB130 but don't want to pay $ 5K + for a bike to beat up in the woods, and the ones that are half that price really don't interest me nearly as much. Aluminum frames....ick! Carbon Fiber is the way to go (think solid maple frames from Hancock and Moore vs the Plywood from Bradington Young and most everyone else). So I get it. I wish H&M sectionals cost less but they simply do not - what can you do?