rudey - i think the uk companies here transmit their signals in PAL whereas the US is NTSC. As such things like your normal channels, sky, cable etc will not work on these tvs from the states.
But if you hook up a dvd player that plays ntsc then you will be able to watch films via that but its not worth the hassle as you will not be able to watch regular tv or sky.
My mate picked up a wicked 42" LCD for 800 quid
it was nicked tho and he did buy it from some scag head scum