Average life of telly: 10 Years
Average life of DVD player 2 Years.
If you buy a combo, two years down the line it will just be a telly with a lump of junk stuck to it.
wellllllllll, sorry to disagree rojash, but I`ve a Panasonic TV/recorder which I`ve had for about 6 years and still used regularly in the bedroom, but in the living room I have a 32" Panasonic HD and Sky+ which is used nearly all day, so I can recommend Panasonic whatever you buy.
Buy separate.
Buy a cheap DVD player (like Philips, that will play anything, incl Jpgs, any discs, etc) with HDMI connection. They last well too.
Buy as big a TV up to reasonable size of course to suit the room, that you can afford, but without buying budget brands. Make sure has HDMI socket (pref x2 min)