Flat screen prices have dropped dramatically during the last year. They're still not cheap, when compared to what you probably paid for your old picture tube TV. But you can now get a top-rated set for between $2,500 and $3,000. So, for most of us this is still a major investment.

In its November electronics issue, Consumer Reports says you can now feel comfortable going with either plasma or LCD.

LCDs are "very good choices" if you have a room with a lot of ambient light, like a window, the magazine's Electronics Editor Paul Reynolds tells me. "They handle reflections well."

LCD sets also weigh less than plasma sets, so they're easier to mount on a wall. One limitation: LCD screens max out at about 40 to 46 inches. Plasma sets come in bigger sizes.

Plasma TVs, Reynolds says, are very bright and very colorful. "They're equally bright regardless of the viewing angle that you view them from, which is not the same with all LCDs."

They're also a good value. "Inch for inch, they give you more bang for your buck," Reynolds says.

WHAT ABOUT RELIABILITY?

Some people worry that buying a flat screen means buying a set that's finicky and trouble-prone. Consumer Reports says based on reader surveys, flat screen televisions have proven to be very reliable.

"We asked our readers about their repair experiences with LCD and Plasma TVs one and two years old," Reynolds explains. "That's of course not a long-term reliability outlook, but so far so good."

Based on that information, Reynolds says, these flat-screen sets "have been as reliable in their first couple of years as picture tube television sets, which, of course, are very reliable overall."

That's why Consumer Reports says generally, an extended warranty for a flat screen TV isn't worth the money.

"They may provide you peace of mind, which may be worth it to you," Reynolds says. "But as a financial investment they're very unlikely to pay off."

Consumer Reports says if you decide to buy an extended warranty, don't pay more than 15% of the TV's price.

Something else I learned by talking to Paul Reynolds. In the past Consumer Reports always said picture tube TVs delivered the best picture. This year for the first time, the magazine says flat screens have caught up.

CONSUMER REPORTS QUICK RECOMMENDATIONS:

Best 40-inch LCD Sets

Sony Bravia KDL-V40XBR1 ($3,000)
The editors say this set delivers a "sharp, clear, colorful picture even with regular TV content." This model may be hard to find. The editors say initial tests of the newer KDL-V40XBR2 ($3,500), which is 1080p, show it's "at least as good if not better" than the XBR1.

JVC LT-40X787 ($2,800)
It had "fine picture quality and sound and a wide viewing angle."

Sony Bravia KDL-40S2000 ($2,300)
It's a lot less than the top-rated Sony model but "came close in picture quality to the XBR1."

Best 50-inch Plasma Sets

LG 50PC1DR ($3,300)
The magazine says LG "offers a lot for the money," including a built-in DVR and a two year warranty. This set had very good sound. The picture quality was "very good, though imagines were a bit soft."

Panasonic TH-50PX60U ($3,100)
This set displayed "sharp clear, colorful images. It's overall score was hurt by "mediocre sound" unless hooked up to external speaker.

You'll find a complete list of ratings in the November issue of Consumer Reports.

More Information:

Study: Flat-Panel TVs Holding Up Over Time