I'm trying to consider everything. Its so hard to pick one.
Hey, a number of years ago there seemed to be a lot of difference between plasma and LCD, and between LCD's. I was in Best Buy last week looking at them all on the wall, and it's really hard to tell much difference between them any more.
They say that you don't want to use plasma in a room that has a lot of light coming in, so LCD would seem to be the more flexible choice. They say that you can't tell the difference between 720p and 1080p on anything smaller than 50" although it seems that most of the TV's 40" and up now are 1080. Many people say that the difference between 60Hz/120Hz/240Hz is something that you really only see when viewing tv's side-by-side or in the lab. LED's theoretically have some advantages (one of them being longer life, but I've heard of plenty of early LED failures in other applications), but that doesn't mean that every LED implementation is a good one.
One thing I would be cognizant of is that the cheaper TV's frequently only have one HDMI connection. At some point down the line you may want to connect several devices this way, it makes sense to me to get a TV that has 3 or 4 (this is perhaps comparable to when USB ports appeared on computers, and there were one or two and that was fine when your peripherals still connected by serial or parallel or PS2, but now that everything is USB, you want to have a lot of ports).
I can tell by the range of sizes you gave that you've already identified that a 40" TV has the same picture height as your 32" tube, and that you're considering one size up. I'd say go with a 46" if you can find a good deal.
You're probably in-between the times for a best deal. Crutchfield is an online store that has a lot of good tech info, they usually don't have the best deal but they have free shipping and no tax if you're out of state, which may make a difference. Actually, last week they seemed to have pretty good deals, looks like they still have a few going on the LG's.