I was at Lowes last night and saw an electric fireplace that was in a media center for putting beneath a plasma TV mounted on the wall. It says that it is 13.5 Amp fireplace, 5,119 BTU's and that it would heat 400 Sq ft. I have two heater vents in the room, and it seems like they can never get it to a comfortable temp. This is the basement family room. I have a 1500 Watt electric pedestal ceramic heater that will get it there in about 2 hours. Just wondering if anyone has an idea about how well this electric fireplace would work.

It will work just about like your pedestal ceramic heater but it will look pretty.

Your current 1500W heater puts out the same BTUs, so you're just not warming up that room any quicker. If your wiring can handle it and you don't mind a bump in your electric bill, then buying a second one and running them together will get you there faster.