Current owner of a 46” 1080p LCD; I previously had a DLP projector until the bulb burned out after about 2000 hours. Here’s an overview on the various hi-definition options out there:
CRT
Pros: Inexpensive, great contrast ratio
Cons: Large and heavy, not available in large sizes, reflective glare on glass screen, burn-in potential
Plasma
Pros: Flat-panel, great contrast ratio, good nighttime performance
Cons: Expensive, reflective glare on glass screen, burn-in potential, delicate glass screen
LCD
Pros: Flat-panel, best daytime performance (low glare due to non-reflective screen), cheaper than plasma in small sizes, no burn-in potential
Cons: Potential backlight banding or unevenness, may have stuck pixels, plasmas have better contrast ratio and reaction time
Rear-projection (3-LCD or DLP)
Pros: Best value for very large sets, great contrast ratio, good nighttime performance, low glare due to non-reflective screen
Cons: Can’t be wall mounted, bulbs will burn out, low brightness poor for daytime viewing
A few comments on resolutions:
Unless you have or plan on getting a high-definition gaming system (XBOX 360 or PS3) or a next-generation disc player (HD-DVD or Blu-Ray), you don’t need a 1080p set. HDTV is broadcast in 720p or 1080i, and the latter resolution (while interlaced) will technically look better on a 1080p set. However, since you’ll spend most of your time watching regular TV (480i) and DVDs (480p), up-scaling everything to 1080p will not improve the quality. In fact, if you’re not going to get HD cable or satellite, don’t even buy an HDTV—get an EDTV (480p) CRT.