LCD is a compromise. That is the bottom line.
There should not be a slam fest about LCD in general, but it needs to be considered carefully before purchase.
1. Is this a primary display or a secondary location?
2. What are the light conditions in the room - and can they be changed?
3. What size display are you looking for?
4. What will be the usage of the display?
Those questions really come to mind when I consider a recommendation of a display for people. It isn't simple enough to say that 'plasma is better' - because a piece of junk plasma won't typically outperform a decent LCD (Sony/Sharp/etc.) - but a good plasma (Pioneer/Panny) will almost always outperform the best of the LCD world for overall image quality.
Yet, some rooms are very bright - and that can't be controlled. This may put a lean towards LCD for some people.
LCD is also very forgiving for people. It's a non-thought display. Got windows? It works! Got long term static images? No issues! Need it bright? No problem! Got a wall that can't support a ton of weight? LCD comes in a lot lighter! Need a smaller screen? Can't even find a small plasma!
Yet, the issues detailed in prior posts are flat out truth. LCD can't match plasma in image quality. The best lcds on the market are still lcds, and they won't best the better plasmas out there. I have three plasmas and one LCD, and my newest plasma (Pioneer Kuro 60") was one that I debated long and hard about because it is in my family room and exposed to some large windows. It is a phenomenal display, but if it was only $500 more to get the anti-reflective coating, I probably would have spent it. For the $1,000+ more it would have cost me, it made no sense.
At least at 50" there are finally a lot more choices for LCD available.
It also seems like plasma is disappearing from the landscape, which really stinks. Pioneer and Panasonic seem to be staying strong though.