Plasmas are sweet TVs but 60" is pretty big- you gotta make sure you have enough of a viewing distance to get that. If you sit too close it's not fun.
I have a 56" Panasonic projection TV and the 42" Vizio LCD 1080p. Was this the one you were thinking?
Vizio Inc. - Products - GV42LF - 42" LCD HDTV
That's the one I have- got it at Costco for like $950- was a sweet deal. No problems so far, it looks great. If you're looking for a decent quality TV but still cheap, I'd say Vizio is a good choice. Don't get Insignia or Olevia though- those have problems I hear.