We just bought an LED smart tv for the bedroom. We got the LG 47LM6400 at Costco for $799. Samsung & LGs are the top rated brands in Consumer Reports right now. Our tv happens to also be 3D which wasn't a selling feature for us but it is pretty neat. It came with 6 pairs of glasses.
We love the Smart tv feature. Not all smart tvs have Wi-Fi (some must have a hard connection) so be sure to ask questions or read the detailed features. LG has a nicely polished smart tv section. Netflix works beautifully and loads quickly. The only thing really missing in the smart tv section is a large selection of new release movies to pay for and rent (like you can do on Xbox live). I'm also hoping eventually there will be apps for ABC, NBC, etc to watch shows rather than having to use the actual web browser, but who knows...it may never happen.
Now, in my opinion Plasma tvs still edge out any other tv when you are watching fast movements. We have a plasma that is about 4 years old and it is better than our led in that regard. But, we needed a lightweight tv for wall mounting (we have lathe and plaster walls) so our led weighs only 30lbs and is only 1.3" thick. Our plasma weighs like 80-100lbs. On our led we do see a bit of pixelation around the edges of a person if they move quickly on the screen. There are settings on the tv to help minimize that but it is still there. I only notice because I'm looking for it. A lot of people would probably never notice it.
Our led definitely beats out our plasma in terms of vividness. The colors are beautiful! So far the blacks seem just as good as the plasma.
We are very happy with our new tv, especially for the price...they have really come down in price!
Make sure you price shop on specific model numbers you want because even though you have 15% off at Target you can probably find a better deal elsewhere.
I also wanted to add that there aren't necessarily all good tvs in one brand. Each brand has a few models that stand out and others may lack. Which is why I suggest looking up specific model numbers.
Amazon is a great place to look at reviews, as well as Consumer Reports if you subscribe.