After playing around with a variety of different sets, I have come to the conclusion that 120hz refreshing is a joke. All it seems to do is make the image look incredibly fake, especially with upconverted dvds. On Blu-Ray and HD-DVD movies it does give a slight 3-D feel when set to low on most sets, however, I could not tolorate it if it was in my home. I would surely shut it off. It just renders the image too unrealistic. With Star Wars Episode I during the pod race scene, it looked like a cheesy PBS special with really amature cgi. Take the same player and upconvert it on my 34XBR800 and it looks fantastic and realistic.
I highly recommend a Plasma over an LCD set. Not only is the black level better in almost all cases, but you have no issues with jittery, motion blurring effects. Even a basic, decent quality, (think Panasonic) 720p plasma will give better video performance than a high dollar LCD of the same size.
LCD will need to eveolve quite a bit before I ever think about getting on board.
I am holding out for SED, maybe... someday...
In the interim, I would get a Panasonic Plasma.