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Beginner questions on flat panel and DVD player

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Sorry for the newbie questions, but I'm just dipping my feet into buying a flat panel TV.

Question 1: Would 720p be sufficient on a 46-50" flat panel or should I go to the 1080p? What I mean is, would I notice a significant difference in picture quality?

Question 2: Would buying 720p now be short sighted 3-5 years down the road (ie will programming all be in 1080p and I'll be missing out?)

Question 3: Can a blu-ray DVD player play normal DVDs? If so, would it provide a better image quality than an ordinary DVD player?

Question 4: Plasma or LCD? I seem to like some of the pros I'm reading on plasma, but it seems like more Companies are no longer producing them, so I wonder if they will disappear in the near future.

Thanks

Follow Ups:

RE: Beginner questions on flat panel and DVD player - David Aiken 14:51:38 05/05/08 (0)
For what it's worth - Brian A 11:43:32 05/05/08 (0)
RE: Beginner questions on flat panel and DVD player - Hornlover 08:25:57 05/05/08 (0)
RE: Beginner questions on flat panel and DVD player - DavidLD 07:37:02 05/05/08 (2)
- Awesome advice and help - thanks! - jackrandom 09:43:20 05/05/08 (1)
  - RE: Awesome advice and help - thanks! - DavidLD 10:35:18 05/05/08 (0)

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