LED – Expensive, Thinner, Greater picture quality, Energy Efficient.
Suggestion:
As advised above LED is better, look at 3d smart tv's so you can get apps, browser, wifi ready, you tube etc
http://www.gadgetrophy.com/2011/11/3d-smart-televisions-start-gaining-momentum.html
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This question has already been asked about 1000 times. LED's are a system of backlighting a LCD set with a more reliable technology than CCFLs which have provided us servicers with a good income for the past several years. LED is systematically replacing LCD TV's and computer monitors.