Yes but once she sees the 42" high def flat screen you got, and knows the only way you afforded it was going the fake ring route- it will be ok.
Tell her the ring is only simbolic, that you intend to show her your affection and love for her in other ways.
If she is offended, then she is a selfish, ego driven bi$#h that just wants the gold to show off to her girlfriends.
Better than find out now than be reminded of it monthly with alimony and child support payments.
Good luck.