The ED vs. HD debate is a difficult one.
I went into Bestbuy fully prepared to buy an HD plasma display, but then I looked at the ED panels sitting next to the HDs. The Panasonic ED 42" display looked real good to me at my viewing distance of 10 feet, where I would be sitting on my couch, not standing 3 or 4 feet away like we do at the store. Cnet.com lists a Pana 42" ED as excellent, better than other pricier HD displays. Now I know why.
The ED had a clearer look, less washed out, more realistic and with greater contrast. The picture had more of a 3 dimensional look compared to the other EDs and several HD displays. Now, there was no Pioneer or Panasonic HD next to the ED to compare it to, but it looked better to me than the LG and Samsung HD pics sitting next to the Panasonic. But then again my eyes aren't what they used to be! YMMV.