Advantages of Plasma over LCD:
1. Deeper blacks, better contrast ratio, displays blacks more accurately than LCDs especially for dark coloured movies.
2. Better viewing angles, although LCDs are already improving in this area.
3. Some LCDs tend to blur images especially during fast movie scenes or sports. I've seen so many Sony bravias on store displays has this nasty effects.
4. In my opinion, plasmas reproduce brighter colour than LCDs.
5. For me, plasma has the edge in terms of picture quality over LCD.
Advantages of LCD over Plasma:
1. Higher native resolution of similar size plasma.
2. Less power consumption.
3. Some says that LCDs last longer than plasmas.
4. Do no suffer from screen "burn in" effect.
For me, i'll just wait for SED TV
http://www.hdtvsolutions.com/sed_tvs.htm