budget lcd or plasma: 720p good enough?

Depends on the size and use. 720p is just as good for 50" and below unless you want to use a computer with it. It's actually slightly better on 720p material.

I bought a 50" 720 Panasonic this summer at Costco for $1200 and my wife just got a 42" Panasonic 1080 for $900 and I can't tell any significant difference on Direct Tv. Actually, mine has a better picture because I am using a better HDMI cable. I am getting her a better one for Christmas. When you get one invest in a $9.95 HDMI cable from MONO PRICE. It is much better than the one you get from direct , etc. I would get a 720 from Panasonic or Sony or Samsung or one of the big companies rather than a 1080 from a lesser company. Check reviews from CNET and others. Costco is a good place to buy, they double your warranty and , I believe, do in home service.

Again, depends on size and use. If you are not going to watch HD channels then you are definitely ok.

None of the networks broadcast in 1080P and there are no current plans to do so. 720p/1080i is fine. If you are going to have BlueRay 1080P would be beneficial.