From whatI have read on the net when looking at these things, Plasma generally gives you a higher contrast ratio (3000:1 is commonplace for plasma's!) whereas LCD is not as high (typically 800:1 - 1000:1), BUT! LCD's typically have more pixels and better brightness. The lower contrast ratio is only a real problem when rying to view the screen in extrememly bright light. That said, most LCD screen don't have glass covers on them, meaning you get virtually no light reflection on them. I notice that with my TFT PC monitor is only hard to see when the sun is really shining in through the window, but my monitor is in FRONT of the window, rather than having the window shining on the screen....
From what I have seen, the common plasma pixel res is 1280x720 (true 16:9 widescreen) while most LCD's are 1366x768 (true 16:9 widescreen) on the same size screen. So naturally then one with more pixels will give a better picture...