I just hooked up my TH-42PWD6 today, and I'm pretty happy with it so far. I thought the specs on the HD version did say 3000:1, versus 4000:1 for the EDTV. I have to say, however, that according to the AVSForum folks, contrast ratios are highly suspect b/c there is no specification for how to measure it.
Eldartford--I'd still recommend running component to your HD box. I used both S-Video and component from my CATV HDTV box, because I wanted the stretch modes when the channel was 4:3--the component on my box puts out black barred 4:3 in a 16:9 window, so it fools the Panny into not using stretch and I am slightly worried by screen burn. The component for HD channels is *considerably* better quality...
I bought this as a stopgap until the Sammy 1080p DLPs show up late this year/early next, with the intent of moving it to another room later. Now I'm reconsidering--the PQ is fantastic from where I sit (about 9' away). I'm now also not sure I really need the 60" I was thinking about...