Get a plasma.
Much higher contrast ratio - more colors, richer picture.
600Hz - makes a huuuge difference with sports, games, anything fast on the screen
About 2/3rds the price - cheaper to make.
Plasma got a bad rap when it came out due to some issues with how long they last, and screen burn. That's really been fixed now (especially if you go Panasonic). They will last just as long as any other TV now.
Spend what you save on getting it calibrated for your home (makes a huge difference with your picture), a blue ray, and a decent HDMI cable
That being said - if you have your tv in a bright room, you may want to consider LED (or LCD if you budget insists), as they are less prone to glare - LED's get a brighter picture so there will be even less glare then LCD, but there will always be some amount of glare and plasmas really aren't that bad - it's something you'l have to compare at the store.
Something to consider about contrast ratio, if you are comparing TVs. Each TV manufacturer has their own system for measuring contrast ratio and it varies so much that you can not use the number compare between brands, only within brands. Look for how dark the blacks get (more important if you watch tv/movies in a darker room, then a lighter one), it's a sign of how much contrast you can get.
You also want to consider where people are telling you this information. I believe people at Sears and Fry's are on commission and will want to sell you an LCD because they are a bigger sale, whilst most other places (like Best Buy) are not on commission and will generally try to sell you the best for your needs (plasma!

).
Hope I helped,
Matt.