I just saw a great deal on an I-INC LT-42-US99 LCD TV, when I showed the tech specs to a friend they said that the contrast ration of 1200:1 was low and would be a significant loss of quality. Even if this isn't the best ratio how much will it effect HD DVDs and video games?
1200:1 contrast ratio for an LCD is considered excellent. There are some manufacturers that publicize very gaudy contrast ratios (Samsung's 3000:1), but most engineers I know in the field think that is just wishful thinking. 800:1 was considered an excellent contrast ratio just a year ago. However, it must be said that there is no standardized method of measuring the contrast ratio, so such info must be viewed with a certain skepticism. Furthermore, the contrast ratio is but one factor to be weighed when choosing a display.
I have never heard of the brand you are investigating, but it must be said that most brands buy their panels from a common supplier, so from the perspective of the LCD panel itself, an off-brand is just as likely to be just as good as a major brand. But the LCD panel is just one part of the unit--the electronics and backlight are also very important. That is where most tvs differ from one another.