People have been using motorized lifts in TV cabinets at the foot of a bed for years now. Look closely, and you can see the panel on the top of the cabinet where the TV comes up. The only difference in floating the cabinet in the main living area is that you can't hide the cord under a bed.
Hiding the cord cover: If you can't find a cord cover that matches your floor, here's an idea. Self-adhesive contact paper comes in woodgrain and a multitude of colors. Buy contact paper that matches your floor as closely as possible and use it to wrap the cable cover. If you have carpeting, the cable covers are made of fabric with Velcro strips running the length of both sides. Make one out of wool or heavy felt to match your carpet as closely as possible.
I know some people don't like to see cord covers, but ask yourself what bothers you more: a cord cover, sitting with your back to the room, or facing the wall instead of the view?