If you can get into the 50" class tvs then your options open up. Not much to choose from in quality plasmas anymore in the 40-49" class. Seems like LCD is the more affordable choice for your size, but there are comprimises as you mentioned.

I am a big Panasonic plasma fan.

My money would be spent on either:

TCP50ST50 or TCP50GT50

Wall mounting and angled down at the viewing position will cut down on room glare from lights and such. Don't mount opposing a window if possible. You will make a mirror. Good luck.