We've got a 48" Zenith plasma and LOVE it! My mom has an HD CRT, and while the HD channels and DVDs look great, non-HD broadcasts are noticeably fuzzy. Neighbors have an LCD screen HD TV, and I really don't notice much difference between it and our plasma screen. One thing we learned about the plasma (after purchase) is that it MUST remain upright at all times. Once it's installed, you want it to stay put and avoid moving it around. If anything goes wrong, there are so few technicians at this point it'll cost several hundred bucks just to get someone to look at it. We fell for the insurance plan, but better safe than sorry in this household.
Keep checking the sales circulars in your area - electronics get cheaper the closer you get to the holidays. Better yet, wait for the after Christmas sales for the best deals.