Has LED caught up to Plasma?


I know that the plasma tv's in the past were always considered to be better than the LED or LCD formats. I'm wondering if this is still the case. With improvements in technology, has the gap narrowed? I bought a 42" Panasonic Plasma over 8 years ago (and yes, it's still working...wished it would have died by now! lol) and am looking to upgrade to a new 55" tv. In all honestly, when I chose plasma back then, I thought the picture quality of both the plasmas and the LED/LCD models were both very good. Even though my plasmas has lasted all these past 8 years, my big concern is that they do heat up quite a bit....where LED's run much cooler. I'm thinking this might translate into a longer life with and LED tv instead of a plasma. What would you buy today if you were buying??? Plasma or LED?
calgarian5355
IMO no. Plasma still offers a better color spectrum compared to LED. LED has one thing, brightness and most people have no clue their TV's are running far to bright and are clipping white etc.

IMO nothing can beat a good Plasma that has been prof calibrated. I have a JVC PJ is my HT and use a Panny 50" VT series in the bedroom.

I also plan on getting another panny plasma 65" as IMO nothing else really compares yet. LED doesn't handle motion as well and I have not been impressed on how some of the sets calibrate.
You dont need to spend hundreds on calibration, there are several diy options on disc or you can always trust your own eyes. There is little that cant be done by the user with some research, education and discs offered for a fraction of the money some/most charge.
Thanks for everyone's responses. I went to a few retailers the past couple days and did some preliminary shopping. From what I saw, the plasma screens are indeed better than the LED's. I had my heart set on the very thin bezel on the Samsung LED 7000/8000 series tv's (very sexy!) but in the end, I think I'm going to have to go with the latest VT series of the Panny plasma. The last installment of the Star Wars saga playing on the 65" VT Panasonic plasma was stunning! So now my question is this (and this goes back to my fear of the heat generated by plasmas), would you buy the extended warranty?
I've had a 50" Panny plasma for almost 6 years. For various reasons it's on I'd say almost 18 hours a day and I've never had a problem. I have it hooked up to an APC power conditioner with power regulation (we have frequent power outages/brown outs here) so not sure how much that may be helping, but I think the extended warranty is not necessary. If anything's going to go wrong it usually happens within the first year (or first few months), and the factory warranty would cover that. Love my TV by the way, and I'd buy another Panny plasma in a heartbeat.