I just wanted to add a few extra comments I thought of while daydreaming at work today.
The first concerns screen size. I mentioned 55-60 inches. Upon further reflection, I would also suggest the 50-55 inch range.
The sweet spot in the mass market, which is what the world caters to, is about 42 inches. However, I really think that 42 would be too small if you're twelve feet away. Remember that a 42 inch widescreen is no taller in the vertical dimension than a 4:3 aspect ratio TV in the 32-36 inch range. It's wider but not taller so it really won't seem too much bigger. Fifty-five to sixty is a pretty hefty size in a normal room. Sixty inches at twelve feet might be too "in your face". Have a look at them in the store to see what you think. Fifty to fifty-five will feel like an upgrade in size from what you have, but not be too overwhelming if you sit close.
However, there is another important reason why I also suggest 50-55 inches, at least for LCD. For plasma, it's not an issue. As time passes, LCD's are getting bigger. This year's latest and greatest are breaking the fifty inch barrier. They are in the 50-55 inch range. If you went to 55-60 and were purchasing this year, you would have to look at an LCD projector, rather than a direct view LCD. Direct view LCDs and rear projector LCDs are sufficiently different in picture quality, at least in my mind, that they are not even in the same ballpark. Compared to plasmas, LCDs are not as vibrant in colour quality/contrast. But the direct view LCD of the current generation are good enough that I don't think this is an issue anymmore compared to plasma. However, I think that it is definitely an issue for the LCD projectors. The projectors are more sensitive to ambient light. If your lighting isn't right, the picture quality, particularly brightness and contrast, will drop off quite a bit. It makes plasma look that much better. As it stands today, if I wanted 55-60 inches, I would probably take a plasma. If it's 50-55 inches, I would take a direct view LCD. I would avoid the rear view projectors, whether it's LCD or DLP.
I didn't mean to insult the DLPs in my comments yesterday. The same comment applies to LCD rear projectors. They're not as good, in my view, as direct view, and the market just doesn't want them. Even though they're only twelve inches thick, you can't hang them on a wall, which is what the mass market wants. And the mass market drives the market. The big advantage of the rear projectors was size/price. However, with big plasmas coming down in price, and direct view LCDs getting bigger, the market for rear projectors is disappearing. You can see that happening in store ads. (Front projectors are a different story. They remain a niche product for those who want very large screens). Even Samsung, the DLP champion, is putting their money where their mouth is and investing hundreds of millions in production facilities for manufacturing LCD glass.
However, it does mean that there are some good deals on the projectors.
One other point about LCD projectors. Consumer Reports reports that there are abnormally high failure rates for LCD projectors. They recommend that you buy an extended warranty. Consumer Reports generally regard extended warranties as wasted money from a consumer's point of view, simply a cash cow for the retailer. For them to recommend that you buy an extended warranty on anything is notable (They also recommend extended warranties for treadmills, but I digress).
So on screen size, my suggestion is a direct view LCD in the 50-55 inch range. I would go with plasma for 55-60, but not a rear projector LCD at that size. And if plasma and direct view LCD were the same size, I would take LCD for the increased resolution and less annoying pixel grid.
One more point on brands. I forgot to mention Pioneer. If I were getting a plasma, I would short list Pioneer and Panasonic. If I were getting LCD, I would short list Sony, then Samsung and Toshiba. I don't think Panasonic's LCDs, although very good, are larger than the 30+ inch range. They're probably smaller than what you may be looking for. Panosonic are into plasma at the larger screen sizes. A lot of people like Sharp LCDs. Personally, I don't find them as good as the others, but I haven't seen this year's models.
There are a lot of good sights for AV information that some other posters may mention. It's worthwhile to educate yourself given the money involved.
And keep in mind that box store TV set-ups are terrible. It would be good to shop for a high-end TV as you would for a stereo. Go to a good store that has their TVs set-up and adjusted properly.
You don't need to thank me for all my sage advice. You can send money instead, or perhaps the phone number of an NBA referee who has somem insights into games during the upcoming season.
