Frankly, I wouldn't buy into the 1080P "fad" right now. There is virtually no true 1080p content available, and you get charged several hundred dollars more to have it included in the TV. HD-DVD and Blu Ray MAY ultimately drive 1080p, but a format war, recent hacking issues (Playstation 3 Blu Ray content copied) and high prices will keep 1080p as a hobbiest level for several years. Most film studios and TV Stations around the country just invested millions (billions?) in HD equipment (720p and 1080i) in the last couple of years, they wont be shelling out more any time soon (unless they are forced to).
Ask yourself this question: Will this TV still be my primary TV of choice in say 3 years? Most people the answer is "no". They will want bigger, better and probably cheaper as a primary set. So I would look into getting the best value for your dollar at this point, stay away from paying extra money for something (1080p) that is raising the cost of the product while not even in its infancy yet.
As for Blu-Ray and HD-DVD, they still up-convert most shows to 1080p. Unless a show or video game is originally shot or created at that resolution, up-conversion is not worth paying the extra money for. Microsoft has no plans as of now to put games in 1080p, while Sony has one title (NBA 07) created in 1080p, and while the floor graphics look great, the rest of the game (surrounding areas, arena, fans, etc) look like dogshit as they sacrifice that part of the game to make a small part 1080p. Keep in mind, unless games are exclusive, you will probably see most Game developers and publishers that make cross-platform titles NOT make 1080p, because it will increase the production costs of the game and force a longer sell period to recoup expenses. It is cheaper and more efficient at this time to product in 720p or 1080 which is supported by both PS3 and Xbox 360, instead of making one version for Wii (480p), one for Xbox 360 (720p) and one for PS3 (1080P).
Frankly, if you are not wall mounting it, then you should strongly consider getting a DLP rear Projection, especially based on what you intend to use it for. You would get more bang for your buck (42" Samsung cost around $1,200) and DLP technology does work better with intense gaming than LCD ever can.
Take it how you wish, but I've worked part-time in the Home Theater Dept at BB for 6 years now and if you came into my store, I would tell you the exact same thing that I did here.
If you want any more info, just PM me.
Z