Should i buy a plasma or an lcd tv? what are the pros and cons on both of them?

Answer 1

In a nutshell:

Plasma
PROS: relatively more affordable at larger sizes, generally brighter and more vivid colors
CONS: prone to "burn-in"; image gets progressively (and irrevocably) dimmer over a lifespan of several years.

LCD:
PROS: no burn-in, no image deterioration over its lifespan, available in smaller sizes
CONS: more expensive in larger sizes, poorer "contrast ratio" (i.e., blacks are not as black), low-end models have issues with fast motion.

Of course, technology is improving and there are models that are exceptions to the rule, but generally, the above pros and cons are still relevant.

Answer 2

In my experience plasma does have brighter and somewhat truer colors. On the downside the screen does have a burn in. Also the lifespan is not that good. Better then it used to be.
Lcd tvs have gotten a lot better in picture quality. They are still not as true as plasma tv. But again they have improved considerably. Most of the good units will use dlp technology.On the good side most lcds use a light bulb system and the bulb can be replaced when it goes out. Lifespan is really unknown at this point for an lcd but it is a lot longer then plasma.