LCD vs Plasma.. pros and cons

I'm looking to buy a new flatscreen HDTV for my apartment. It's bonus time so i'm fine spending several thousand on this purchase. I watch a ton of sports and plenty of movies at home, so quality of picture is very important to me.

I have heard good arguments for both LCDs and plasmas. What are the pros and cons of each? I have heard plasmas are better quality picture but dont last as long as lCDs. Then there are those who say plasmas nowadays have great durability and that the argument that they broke down quickly is passe.

Please help. Any advice/explanation would be appreciated. I'm ready to spend real money but I dont want to make a mistake and buy the wrong thing.

Thanks.