How important is 10-bit color, really?

[ADWyatt]

The 2014 Holiday shopping season may be a good time to purchase a 4k TV, for two reasons. First, thanks to companies like Vizio, prices of this year's units have started to decline. Secondly, manufacturers may be trying to make room for the release of new models. CES 2015 is only a little more than two months away as of this post, and there may be sufficient advances in next-gen 4k TVs that many consumers may decide not to buy this year's inventory after seeing the new prototypes in January.

At least so far as I'm aware, after speaking to technicians for Sony, Samsung and Toshiba it appears that most TVs this year employ an 8-bit color processor. (It appears that a notable exception is Vizio, but that company no longer supports 3D.) We all know that when 4k Blu-ray players are released, hopefully by the 2015 Holiday shopping season, they will employ 10-bit color processing. My understanding, though, is that TVs must have 10-bit processing power to take advantage of these players. If I'm right, that leaves me to ask just how much of an improvement 10-bit will be over 8-bit. Will the difference be night-and-day, or can we live with limitations for a few years?

Here's why I'm asking: My guess is that a TV such as Sony's 65" 850 might sell for as low as $2,500 this Holiday season. It doesn't have local dimming or 10-bit, but the overall picture is very good, and at that price it would be an attractive buy. I could keep the TV for three years, after which I believe OLED would be affordable and refined. I could accept the sell-off price of the Sony.

This sounds like a plan, but I have to wonder if the quality of next year's 4k TVs, with 10-bit processing and full backlighting improvements, will make me regret buying this year. I certainly would enjoy hearing opinions from the informed members of this forum.
Thanks in advance for all advice and opinions you may care to give.