I am buying another 42" tv and have been leaning towards the Panny 75u 720 that is at Sears now for $939. They also just got in the new Panny 42" 1080p with the antiglare screen and it is on sale for $1249. I only plan on running games for the kids, digital satellite (no HD yet) and DVD's (no HD). Is there any reason to get the new Panny 1080p for $300 more in a 42"?

The new Panny is rated at only 5000:1 contrast as opposed to the 720 at 10000:1.

My 1080P Panasonic does have better and more consistent blacks than the 1080i one did - but the picture isn't as bright. Generally, though, on movies with the 1080P TV it's like being at the cinema.

There are too many other factors on board that have a say in the overall performance.

The 1080p is not much more, only $300, but that is about 30% of the 720 cost

Unless you are planning on watching a lot of BluRay/HD-DVD movies in the future. But even then they will still look superb on a 1080i/720p set.
Save the $300 and buy an HD-DVD player.