Bikergran I am considering the same thing and we have a similar age house with a nice enough fire surround but a naff coal effect electric fire stuck in front which we never use. The mantlepiece is basically just a shelf. No chimney breast, no chimney.
I have an obscenely large TV in the corner which I love but I am very tempted to rip out this false fireplace and out a nice TV shelving unit there. This will give me a better head on viewing angle and more shelf space, as well as more balance to that wall.
If I had a real fire like some of the lovely ones on here, I would definitely keep it but I haven't. I can see your dilemma