I bought myself a cheepo 32 inch LCD tv (Envision 1080i).
I saw it in the store alongside the samsungs and sonys, and I couldn't see a difference in color or clarity. Then again, 160 bit mp3s are fine for my ears too :) So take that for what it is. If you're an audiophile or videophile, maybe you can see/hear the differences. These days i'd imagine the quality of any of these LCDs is 'good enough'
The only stat I did pay attention to at the time was the responste rate. I made sure to get one thats 8m/s at least. I haven't noticed any ghosting and I have played games on my tv.
That said, afew of the things I'd suggest you look at outside of the 'specs'
1. input. My cheepo LCD has loads of input and are all conveniently placed. HDMI, VGA, component... Its quick and easy to hookup a PC or gaming system as it has some of the inputs along the side of the tv...others at the back.
2. on screen menu: I've come to be annoyed at the fact my tv doesn't have a clock! I would never have thought of that...i always thought it was a given. Also the font is too small on the on screen menu. Little things like this matter a heck of a lot more than a bit of extra resolution or what not IMHO.