Contrast ratio can be measured a number of different ways, but at the end of the day is almost always a manufacturer inflated lie that results from testing 100 or 1,000 different displays to find the ONE that gives them the best numbers.
Reality dictates that ANSI contrast ratio, which is generated by putting up a checkerboard pattern of white/black squares, is often in the 500:1 range, even for displays with full on/full off contrast ratios that are 10,000:1 or more.
So, read your reviews, do your homework, and go look at some sets that interest you with your own demo material.