I've seen the Hitachi in person, and I can honestly say for the money it looks very good.
It does claim 1080i, and I viewed it directly next to a 720p set and a 1080p set.
The difference for TV viewing was minimal. (which in my case, a TV in the kitchen would not get hooked up to my computer, so would be fine)
That is of course if it is the same model I am thinking of.
At that price, I would buy it in a heartbeat.
Heck at that price for a NEW 42" of any TV would be great (720p)