My family got a new Sony wega LCD tv and I think it's terrible. What good is all that extra resolution (that really isn't that necessary) when it's offset by pixelization, artifacting, video noise and atrocious contrast ratio. So much for improved overall clarity with HD. Our older CRT had a better overall picture because it actually could display the color black.
As bad as our new tv is, it's light years ahead of the flat screen tv at my friends house which was bought about 6 years ago. You may just want to wait for them to further improve and drop in price.
Try watching the same thing on both tv's you're comparing. I suggest the first scene in ET. The remastered Blade Runner dvd might be worth trying too.
Can people think of other movies that would be a good reference for color or contrast?