It's true LCDs do become unviewable from extreme angles, but any amount off center and contrast starts to drop. Heck, on big screens which fill your field of view it's possible for the sides to already have a measurable contrast drop.
Try some of these test patterns on an LCD display (you can use either a HTPC or a media player, just make sure the driving device and the display are in pix-by-pix mode):
http://www.lagom.nl/lcd-test/ I know that the PQ drops off - but for me and the usual audience the picture quality is jaw dropping. If I actually tried measuring with test screens, I would just ruin my happiness at the picture.
On a separate note, the LED TV's were not out (they were part of the rumour mill) when I was in the market. I have not done much reading except that the rumours were listing them as the next great innovation. Has that panned out?
