Plasma TV's have the highest "native" contrast ratios(5,000,000:1). Giving them the blackest blacks, whitest whites and most vivid and rich looking colors! They also have the fastest response times(.001ms) and fastest refresh rates(600hz). Making them the best at producing the sharpest and smoothest motion. Perfect for sports, movies and gaming!
As for the myths; they do not have problems with burn-in anymore(thanks to better gases, pixel orbiting technology and screen savers). They do not use large amounts of energy. Their energy consumption is now comparable to similar sized LCD TVs(except LED). And they have anti-reflective coatings on their screens to prevent glare.
If you decide to go Plasma, go with a Panasonic or Samsung. I prefer Panasonic due to their reliability and performance!
Suggestion:
Plasma TV's and LCD TVs have very different benefits.
Plasma TV's have a great picture quality that you will not be able to match with an equally priced LCD. All plasma televisions have 600 htz processors that keep the picture very smooth and keep it from having motion jutter if you are watching a fast motioned picture. The contrast ratios are also much better than then most LCD's as well as how realistic the colors are. You will not find a LCD that has the same picture quality without having to pay an arm and a leg for it.
There are also some downsides about plasmas that some people can not get over. If you abuse the tv by having it running for long hours at a time you run the risk of having image retention or picture burn in. With newer models you do no really have to worry about this, especially from brands like Panasonic or Samsung but I do stress that if you buy a plasma television don't leave it running for 10 hours a day. Also, sometimes plasma televisions can "Ghost" and this means that when viewing from a side angle you may be able to see a slight overlapping of picture. It is not anything to make a big deal out of but just to let you know.
LCD's are beneficial televisions because they are very energy efficient and do well in very well lit rooms. I would say that they are ideal if you play alot of video games so that way you do not run the risk of image retention. LCD's have anti-reflectant screen so you do not have to worry about the glare from the sunlight (some Panasonic plasmas also have filter for anti-glare).
It is my oppinion that many people find the LCD's to be much more attractive then plasma's because of how bright and vivid the picture is ( I know from experience I sell TV's). There are not to many down-sides to LCD televisions besides the price tag and sometimes from a viewing angle the picture can fade a little bit.
I have a personal preference for plasma's because they have a great picture and I am cheap so I like the low prices.
I would recommend Panasonic if you are going to purchase a plasma and a Samsung if you decide to buy an LCD.

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