Where to start...
ok, 16:9 screens are ideal if you are watching more widescreen TV than standard (4:3) TV (read TV as DVD, HDTV, whatever you want, VIDEO SIGNAL).
If you watch 4:3 TV more, than you get those great excess black bars on the sides of a widescreen set, and unless you have one of the few screens on the market that can change scan modes for 4:3 aspect signals, you can get burn-in problems over time (permanent damage to the screen). The same can be said for 4:3 screens when you watch a lot of 16:9 (same problem, except excess black bars at the top/bottom). This should be how you choose aspect (this, and personal preference

). Don't get a 16:9 screen that can't display 4:3 without altering the picture, thats just stupid. Most can do 4:3 without stretching the image.
Quality is a must, Sony isn't always the best...Toshiba, Hitachi, Samsung are also quite good, but you take the pick when you choose what size TV you want, and if you want rear or front projection (or Plasma/LCD

)
Formats...always fun. We have Standard (current interlaced signals), SDTV, and HDTV. Standard TV is broadcast at a max of 480i (i means interlaced). Most signals using this don't use all 480 lines of resolution (usually only Pay-per-view, HBO, and other premium stations get close). 480i is also what DVDs output at (except for progressive scan, which I'm getting to). 480p (p is progressive) is the same lines of resolution, but they are all displayed at once (unlike interlaced signals, which alternate which lines are displayed). 480p is what MOST progressive scan DVD players output at, and what SDTV signals use (Standard Definition TV). the remaining are HDTV signals (usually the popular is 720p, 720i, or 1080i). They have more lines of resolution, and look great (personally, I think 480p looks excellent, and is enough to keep me happy).
Keep in mind, you need a HDTV tuner to decode HDTV signals (whether it be a separate tuner, built into a satellite box, etc). And don't get confused with Digital cable/sat. They may be digital, and better signals (less noise), but they can still be 480i signals, check with your service provider.
It is correct to watch out for the digital ports being put into HDTVs, as they haven't been agreed upon, and its annoying. Bocamojo had a good post, stick with his feature list.
did I answer enough? phew...