Update: Larwyn raises an excellent point: in 1949 dollars, doesn't $650 seem like a fortune? Consider the following automobile prices, which seem to represent both ends of the spectrum:
1947 $1,076 Ford Deluxe Model Coupe
1948 $2,057 Chrysler Royal Coupe
1948 $4,821 Chrysler Crown Imperial
1949 $1,472 Ford Custom
1949 $2,381 Hudson
1949 $3,186 Lincoln Cosmopolitan
Put in these terms, doesn't $650 seem like about $6,500 in today's dollars?
Update II: Where's the best place to put these new-fangled televisions?
Via: Popular Mechanics, Feb. 1949.