To be franky honest with LCD tvs you get what you pay for, cheap Tv's will simply not look as good as expensive ones, again this is all dependant on what source your connecting the TV to as well and how far your gonna be sitting away from the screen..
Cheap LCD's will show there weakness when watching fast moving pictures, ESPECIALLY things like football can look really poor though a SD feed on a cheap LCD..
But is it 'cheap' or just good value? The contrast seems a fairly important thing to go on, and this one quotes 5000:1. [The cheap ones, Bush, etc are all 1000:1, and the Panasonic are10,000:1]