I got the new Panasonic 42inch pz700 1080p last week and have been watching it since then. I've been watching some HD signal t.v. shows and they look great. I have an upconverting dvd player and have watched some dvd's and they display good for a flat panel t.v. (but not as good as on an old tube t.v.-- because the screen size is bigger and the signal does not display as finely and you can notice some artifacts on the screen). I plan to eventually get an HD or Blu-ray dvd player, but I currently have hundreds of regular dvd's, which will remain in my collection since they are older movies and won't likely be replaced by the newer format for a good while. I returned my Sony 40inch v2500 and I do like the Panasonic better. I do like plasma a bit better than lcd now after having each. Some dvd's have better pictures than others and you can notice which ones are better, for instance, Ghost Dog Way of the Samurai does not display as well as the Star Wars prequels or Kingdom of Heaven... and Le Samourai does not display as well either... so, some dvd transfers are better than others and with a flat panel t.v. you can tell the difference (as compared to watching them on a standard CRT 36inch tube t.v.). I put Fifth Element in and it plays great too, so I have yet to watch more movies from my collection and see how they look. I have been watching TCM, Turner Classic Movies, and its cable t.v. channel signal is only 480i, but it does display better with truer deeper blacks (in black and white movies and color ones too) than the lcd tv I used to have. Just thought I'd post about my entry into the flat panel t.v. marketplace. You really need to do research to find what works best for your taste and needs and which t.v. you can afford and is right for you.