Should I get a 1080p or 720p LCD? Please help!?

I'm probably getting a TV in August, and so I've started looking and can't decide if I should get 1080p or 720p. The 720p is cheaper, of course, but I wonder if this technology will become obsolete before I buy a new TV in however many years?

Should I wait until 1080p prices come down before I get the TV?

The TV will be 42" or smaller, and will be used mainly for HD-DVD and HDTV. I won't be playing PS3 or Xbox or anything like that.

Also-what is THE MOST important factor in picture quality?

A high contrast ratio is very important to me, but as far as everything else goes.I just can't decide if there is a big enough difference between 720p and 1080p! Please help!

Answer:
Currently there are no broadcasts for the 1080i but it
will be here soon so I would look at buying a 1080i set
as it will be able to view all of the current formats as well
as the new 1080i format.

To bad you weren't going to use the xBox360, it includes
a BlueRay DVD player so you could use it to watch your
HD DVD's, don't bother with DVD players that do up-conversion they don't really do that good of a job and at higher resolutions they can start to skip and pixulate.

EDIT:

Sorry about that, currently there is no 1080p (progressive
scan) being broadcast, one of the people below me said
that most broadcasts were in 720i format, I have Direct TV
and all of my HD broadcasts are in 1080i
If you ever plan on getting a blu-ray or HD-DVD (like you said) you should consider a 1080. If you're a big quality type person then obviously get the 1080, but I see nothing wrong with 720. But (sorry for being repetetive here), there's little point in getting an HD-DVD if you have a 720, just get an "up-convert" dvd player for a fraction of the price.
720 AND 1080 ARE TO ME THE SAME IT REALLY DEPENDS ON HOW YOU HAVE YOUR SOURCE OF HD CONNECTED TO THE TV HDMI/DVI OR COMPONENT IT TAKES A SHARP EYE TO REALLY TELL THE DIFFERNCE BUT 720 IS VERY GOOD FOR THE PRICE AND MOST PROGRAMS ARE BROADCAST IN 720 NOT 1080

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