LCD TV’s

Pros
a) Cost effective ($400 - $1500ish)
b) Great Picture
c) Immune to burn-in
d) Light-Weight
e) Cool running Temp.
f) Wall Mountable
g) LCD’s last around 50,000–60,000hrs (22/27 years)
h) Backlights only cost a few hundred to replace.

Cons
a) Occasional Dead pixels (normally not covered by warranty)
b) Image ghosting
c) Temperature sensitive
d) Brightness isn’t uniform
e) “Rainbow Effect” if touched
f) Size limited (Aside from a Samsung 40” and a Sony 40” at $3500 the rest are around 27”)
g) Brightness degrades over time
h) Since backlit, black levels are less black

LCD’s are rather well known by most computer folks since that’s what technology those flat panel monitors are using. The list above mentions that the average lifespan of an LCD Flat panel is right around 50,000 to 60,000 hours. If we assume it is left on for 6 hours a day every day of the year, that puppy’s going to last for anywhere between 22 and 27 years before you’ll have to buy a new one. The down side of course is that just like a regular TV, the picture will slowly fade over time. Also they tend to ghost a bit when playing fast action games if the response rate on your particular screen is not fast enough. The black levels aren’t great, you shouldn’t operate one if it’s too cold, don't touch the screen and good luck finding one 40” or larger.