I took the plunge. Contrary to my earlier post I bought a 720 res set. It's a Panasonic 50 inch PLasma. I got it for $999. at Costco. It's really great. I haven't viewed anything on it at 720 res yet but I will as soon as I order the HD satellite receiver. My old DVD player gives a great picture on it. Hard to imagine it much better but I'll be shopping for a Blue Ray or up-converting DVD player soon.
Thanks to everyone. This thread has been quite an education.
Whatever you decided, Plasma or LCD, the key to High Def is 1080P, as technology is getting better and better, you will wish you had it. You will not be able to take full advantage of High Def tech with 720p. It's true, a lot of the cable channels or dish channels rarely broadcast up to 1080p, but it's just a matter of time. The 720p version won't be on the market for long.