Ya,I preferring LED because it will give better quality picture than LCD, and also it takes low power consumptions.
LED has slightly better graphics because it has more advanced lighting technologies. There isn't much difference between the two though, so either one is good
LED because it has more contrast ratio and less response time. Also life of LED is more than LCD so better to go for the LED.
LED. It's newer, has better quality and it consumes lower power. It's as cheap as LCD in my place. BTW, shouldn't this thread posted here, in "hardware" section: http://forums.digitalpoint.com/forumdisplay.php?f=107