I wouldn't go expensive or high tech. The minute you buy anything electronic it starts becoming obsolete. I went for plasma to get better viewing angle capability, but after an old CRT, I was blown away with a $450 42" TV.
+1
Recently researched and bought a 42" LG plasma TV 42PA4500 (just under $400.00 @ HHGregg). Maximum size that fits in our media center area - bought cabinet awhile ago when future flat screen size projections were a lot smaller and old 27" CRT TV got lost in it. Price was the same everywhere (hmm) so ordering from Amazon and risking shipment damage wasn't worth it IMHO. I'm cheap, but expect quality/reliability for my money. It's 720P - not 1080P capable, but AFAIK broadcast TV is only 720P and no plans to go 1080P anytime soon.
Like the LED TVs, but they are (over) priced as leading edge technology and types of LED (backlit/edgelit) are still sorting it out as I see it. Plasma at 600hz refresh is excellent picture quality, and anticipated life expectancy of screen is twice that of LCD/LED. LG 42PA4500 screen comes with 2 year warranty - LED/LCD standard is 1 year. Does have reflective "glass" screen like old CRT screens which makes it slightly heavier than LCD/LED style. We have it in our "very sunny" family room and can be an issue, but LCDs would have some issues in a room like ours also.
Try my weird screen image quality test. Lightly tap on a plasma screen, press/move your fingers across the screen - then try this test on any other LCD style plastic screen. You'll see most streak color differences as you move your fingers across the screen (some way more than others). Yes, two different screen technologies, but plastic screens concern me (reliability, scratching, cleaning, etc.). LED didn't appear to have as much moving color problem like the LCD. LED with 120 or higher refresh rate is recommended.
LG, Panasonic, Samsung are the higher rated TVs. We own two LG units. The bedroom unit is +1 years old and an LCD version. Screen suffers from off center viewing issues as well as above/below viewing (darkening) beware. Recommend you select a TV with high consideration for connections in the rear of the set. A lot of them are removing most connections in an effort to save costs (cheapen them up for profit). Look for 2+ HDMI inputs, at least (1) component, USB, VGA/RGB-PC and coax TV cable inputs. A lot of computers are now have HDMI connections, but older rely on VGA/RGB. You'll want optical audio out for connecting to external audio, as well as headphone style audio in for older PCs.
We use Tivo with over the air TV - cut the cable (kept internet). Coax connection allows us to watch OTA TV while (2) channels are recording on Tivo (you can also watch any Tivo recording while they are both recording). Our area 25 miles SW of Chicago gets over 50 OTA channels. Tivo allows DVR recording, pause live TV, programming information, and online streaming - one box. Bought a reconditioned one for $80.00 direct from Tivo. Least amount of HD capability, but more recording space than ATT Uverse DVR - go figure. Like keeping streaming to separate unit for reliability issues. Tried HULU+ and Netflix, but dropped them as they have mostly outdated streaming material. Get old TV stuff on the local channels. Can get up to date Netflix only by mail (conflict here if you ask me). There are lots of free online streaming sites (even Hulu), but will need those computer connections missing on many new TVs to successfully stream them.
Hope this info helps with your selections