I remember I used to read that Plasma sucked compared to LCD. Was that just successful propaganda?
Not sure about older Plasma as we've only had 2 sets over 3 years.
But our Plasmas are fairly amazing, colours, blacks motion and lag.the one draw back is anything left on the screen for long than 2-3 minutes will leave a very very faint ghost image, this is called image retention. In this regard I can never in good conscience recommend them for any serious/hardcore gamer or any gamer that games for long periods of time. For movies it is the best experience possible.
I game on last years highend Panasonic Plasma and the wife games on this years w805 Sony LED, the sony is amazing for motion too and I believe better for the lag, but if I ever want to game competitively nothing beats a decent mid range monitor.
Other downsides of plasma is the energy used, these sets are like old school CRT's for heat generated, modern LED's you wouldn't know they were on half the time.
So in conclusion, nothing is perfect, they're all good at most things and great at one thing.
This Vita screen is very reminiscent of plasma for me, right down to very gentle image retention (never using the vita browser again, ever). But the benefits of the OLED just like those of Plasma are easily outweighing the drawbacks.