I recently purchased a 42" Panasonic Plasma and here's some things I learned along the way:
1) Prices are slightly higher than they were during boxing week
2) Yes, currently the HD signals we receive via sattelite or cable is only 720P
3) yes, Blu Ray is the only true 1080 signal out there currently.
4) I found that while LCDs seemed to be brighter than Plasma, the mid priced ones ($1200 - 1600 for a 42") have a noticeable "blur" during high speed scenes like hockey games. This isn't present on the plasma.
5) even though currently the signals we receive at only 720, I noticed a very grainy appearance on screens producing only 720 signals. I found all 1080 sets to be much crisper and cleaner. It was explained to me that the set upconverts the signal which is why it is smoother. Kind of like a vehicle that is able to do 200 mph, at 120 it purrs where a vehicle that can only do 120 is maxed out.
6) Just because we currently only have 720 signals, doesn't mean it will always be that way. Unless you are the type to always upgrade to the latest and greatest buying a set now, that will still be good if 1080 signals start to be available, is kind of like hedging your bets.
Not to brag but this is what I scored the other day:
Panasonic TH-42PZ77 1080P which is going for around $1500.00 at BB etc
I went to the sears outlet at Woodbine and Steeles and they had an open box unit for $1279.00.
They also have at no tax sale now on which equates to 13% off
They also have a 10% discount if you pay with your sears card.
They also have a 5% (I think) if the appliance is energy star rated.
All told I paid $1070.00 out the door (they gave me the 10% discount even though I didn't pay with my sears card).
The ONLY drawback I can see with this set is that it only has 2 HDMI inputs. As I've heard with HD: I was watching Star Trek: search for Spock last night and with the super high clarity, the special effects and movie sets looked REALLY bad lol. I mean, you could SO tell they were fake.
I have also heard that with plasma, it is like looking out a window at the scene. This is SO true it's actually eerie and I am finding it a little unnerving.
Another thing I'm finding a little irritating is when you're watching even non-HD stations, the screen format switches from widescreen to 4:3 from commercial to commercial. One will be 4:3, the next 16:9, then the station ID slide comes on 16:9 then the show comes on at 4:3....so it's like: wide/narrow/wide/wide/narrow/narrow lol....But man, even non HD programs look freaking amazing....