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Plasmas: had bad reds (orangy) - now improved; had burn-in problems - now fixed; had artifacts due to strobing used to create gray levels - not fixed, but maybe improved depending on the gray-scale processing and driver circuits; had motion smear - not fixed, although may be improved in some models
LCD: had trouble with contrast ratio -now fixed (at least for viewing from near head-on, some may be degraded when viewed from a steep angle); had color/gamma problems, especially in highly saturated colors - now fixed; had motion smear - fixed in 120 Hz models
Personally, I have always liked the rendition on LCDs over that of plasmas given their state of improvement at any given time.
However, until recently, I felt that the best non-CRT HD display was the DMD projector. LCD flat panels may have caught up with that.
LCDs these days may be designed to produce the HDTV primary colors exactly. There have been some introductions of wider-gamut LCD displays, particularly high-end computer displays, but there have been some reviews counseling against these as being more variable when viewed off-axis. There are standards in place that would allow coding DVDs or Blu-rays with this wider gamut; otherwise, having it is a waste and an invitation to exaggerated and innacurate color if the panel is not set to a normal-gamut mode.
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