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You should get an antenna and digital off-air receiver box to go with that 55-inch set - you will definitely see the difference in Hi-Def sports. (We get the Cubs and Bulls local games in HD in Chicago --- OK, maybe that's a bad example...) Joking aside, football games and other sports look fantastic.
Olympics were beautiful, too bad NBC did only a loop of partial coverage. HD movies look good too, but if you want a significant quantity you have to consider HD cable or satellite. Prime-time dramas look great, too, but I don't know how much it really contributes to the story. However, CBS in Washington DC said that if they accidentally send out "The Young and the Restless" in standard def, they get complaints! So there are some appreciative people watching even that in HD.
Personal opinion: below 30-inch, its hard for a CRT to have enough resolution to show a big difference in HD. HD LCD's or plasmas are very good at showing the resolution in this size and up, but still expensive. Something like a 55-inch rear projection is about the best bang for the buck right now, but if you just must hang it on the wall, you could wait for prices to come down some more.
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