So far as I've ascertained, it doesn't work well with any tv. I have been playing DVDs in it because most of the blurays I try to play won't play or freeze throughout. I've got a 46" flat screen and on the occassions that it does work, the picture is fine.
In my experience it doesn't work well period. But there is nothing about a 46" flat screen TV that would be problematic. As long as your TV has an hdmi port ( and I imagine it does) then this (and basically any blu ray player) will work.
It works with my Panasonic 50". Be sure to apply the latest firmware updates though. This model was disappointing at first. It crashed repeatedly (worse than Windows Vista)when first purchased, but the newest firmware updates have fixed most of the original problems.