I tried it, and overall it worked well for some games, but not others for two reasons:-
1. I play too many games, particularly older "Golden Age" (ie, PC exclusive) games with UI's that are heavily optimized for 2ft view distance + keyb & mouse. Eg, small text size / smaller icons / UI elements in Baldur's Gate, Neverwinter Nights, Deus Ex (original), etc, that look and play way better at 2ft than 6-10ft distances no matter what TV or controller you've got. Dragon Age Origins PC version had 40x quickslots at 1080p and was sheer bliss to play with a mouse. The console / controller based version of the UI is significantly inferior, taking far longer to select some skills / items. You only have to look at modern "controller first" game design to see what sacrifices are needed to "fit" onto a controller (weapon wheels vs one-touch F-key shortcuts, 2 weapon limits, reduction of quickbar sizes in RPG's, no quick/manual save/load, giant icon / UI element sizes that are often not scaled well from 2ft vs 10ft view distances (eg, stupid size 20-30 font inventory lists in vanilla Oblivion / Skyrim that requiring modding with DarnifiedUI / SkyUI to not look completely absurd up close), reduction in pace of FPS games due to slower "thumb scrolling" controller turning speed vs a quick mouse "wrist flick", reduction in depth of strategic / tactical mouse driven menu's in RPG's in favor of actiony controls (DAO's quickbar & tactics menu vs DA2 & DAI), reduction in complexity of RPG's into a more actiony MOBA genre games due to lack of 30-40x one-touch rapid "build/select/formation" keyboard shortcuts, etc).
Old school RTS's like Age of Empires, Age of Mythology, Rise of Nations, etc, plus some "4X" games like Endless Space, with small icons are hopeless on a TV & controller. Racing games still play the best with a proper steering wheel & pedals, which often requires a desk / table to attach to. Controllers simply cannot replace keyb + mouse for all games regardless of the "it's the future!" hype. Slower paced modern "action adventure" or "cover shooters" work well, but not the faster paced "twitch" FPS, or puzzle / point & click games / RTS's or older pre-cross-platform games with no integral controller support. They may be "playable" with a 3rd party utility that converts controller input to a keyb / mouse simulator, but "playable" is often far from optimal. Someone playing a fast paced twitch is going to get creamed going head to head with a twitch mouse gamer without cheat mode (auto-aim) turned on, as seen again & again, sometimes with scores of over 0:70 kill:loss ratio's. If you only ever play modern post 2012 Ubisoft games, you'll probably be more in luck, but for those of us with a large collection / wide taste in gaming stretching back over 25 years, the "TV experience" is very much "mixed".
2. I personally found there's also a psychological aspect. Some games "feel" better on a sofa, eg, sports or Wii style party genre games or some slower action adventure like Tomb Raider. But some other genre's (especially stealth / horror genre's) just feel more immersive up close. Games like Thief (originals, not the trashy remake), many horror games, etc, up close to a large high contrast monitor, with the lights out, at night with high quality headphones are way more immersive than flopped out on the sofa from several feet away. Maybe it's down to personal preference, but some games just feel like the closer you are to the screen, leaning forward into the action, the more "into" the game you get. And the more "flopped out" you are from 10ft away, the more disconnected the feel of immersion.
I gave "living room TV + controller gaming" a fair shot, but many PC games I played just plain worked better on a monitor at 2ft with a keyb & mouse, and after 2 weeks, soon went back to a traditional PC + keyb & mouse setup. There's a whole lot more to it though than just screen size or controller vs mouse on a "well it technical works" level.