Each one of the technologies offers it's own advantages and disadvantages. They fall into separate areas and it is your UNIQUE situation that helps to determine what you should be getting.
~~~REAR PROJECTION TV~~~
These guys come in 3 flavors generally speaking. LCD, LCoS, and DLP. LCD, while it looks great (rear projection) can't keep up with LCoS or DLP. The toss up between LCoS (Sony SXRD), or DLP (lots) is very close and really depends as much on manufacturer as it does on the technology itself. But, generally speaking, they are very close and rear projection TVs (RPTV) will deliver the smoothest, most natural image attainable these days.
They also offer a significant price advantage as screen sizes go up. 60"+ models are available from most major manufacturers for a price that is significantly less than other technologies.
The downside? They aren't as bright as flat panel displays (FPDs) and their viewing angle isn't as good - at least not as good as plasma.
Recommended: In a room that has some spare space on a countertop - not wall mountable - and without a lot of windows. The basement is a great location if that's your spot. Also good when on a fairly tight budget.
~~~LCD~~~
LCD is the buzzword product, but in test after test after test, it simply doesn't measure up to plasma. Yes, LCD looks good, yes, it comes CLOSE to plasma, but it isn't plasma. It has some image degradation when viewing off axis (side to side) and has image blurring issues which have not been entirely overcome.
On the other hand - LCD is still very good with quality and the better LCDs will outperform some of the cheaper plasma displays. The CHEAPER LCDs are total garbage and must be avoided as they look terrible. LCDs don't have burn-in issues, so it's great for uncontrolled environments where kids may leave a video game paused for hours at a time. As well, LCDs typically have anti-reflective screens which deals with windows behind the screen better than most plasmas.
LCD really is the "Go To" simple product. It works, it looks decent, and it won't have serious issues with it that are really annoying.
They still tend to cost a bit more than the comparible plasma size, and while 52" sizes are becoming more readily available, it is still tougher to get the selection of big sizes that plasma offers. Especially at 60"+.
Recommended: In a room where flat panels are required and little control of ambient light or viewing material is possible. Great for kids rooms or setups which include video game systems and heavy usage by children/teens.
~~~PLASMA~~~
Plasmas are still the winner in the flat panel display category. They are a better price and tend to produce a better image than LCD can deliver. Panasonic and Pioneer displays pretty much lead the pack and have a variety of sizes to fit most needs.
The advantages to plasmas tend to revolve around a image that is viewable anywhere in the room - off angle - without issue. They have great color and contrast, with very good black levels and shadow details. They operate well in fairly bright rooms. They also have good colors and excellent motion handling. For the money, you get a bit more for your dollar by going the plasma route with products like the 60" Pioneer running around $3,000.
The downsides: Probably the biggest downside to most plasmas is their glass fronted screens. While they look great, the glossy nature of glass means that any windows in the background are reflected very easily. Newer plasmas are available with anti-reflective coatings to help combat this. (GOOD!) They have the potential for screen burn-in which is a permanent condition leaving a mark on the screen (every see an old Pac-Man game with PLAYER 1 etched in the lower right corner? That's burn-in). For the most part, under any normal television viewing, burn-in will never, EVER be an issue with plasmas. There is the 1080p debate issue (ask if you want), but newer plasmas are available with 1080p displays. Yet, at a 10' viewing distance, there is no difference that is discernable between a 768p display and a 1080p display, so it really doesn't matter if the display is 1080p or something lower, such as 768p.
Most people I have worked with tend to buy 'small' when they get a new TV. They have a 27" model for years, so when they upgrade, they think 42" is HUGE! The reality is that at about 12' viewing, 50" is a bit on the small side, and 60" makes far more sense. This may not be something that can survive WAF, but it is the correct size for this distance. Even larger as the content goes entirely HD.
In a bright room - the toss up would be plasma and LCD with a lean towards LCD at smaller sizes and plasma around 50" with anti-glare coatings.
Panasonic and Pioneer (ESPECIALLY PIONEER) for plasma
Sony, Sharp, and Samsung for LCD.
