OP

Quoted from Dmod:

In my personal opinion, it's not better... just different. Your mileage may vary.
As an active display, colors are definitely brighter and more vibrant. Black level in a dark room is much better as there's no backlight. However, the faces of the LEDs themselves are white, so in a lit room the black level isn't as good. The panels themselves look gray.
The "dots" are smaller than plasma, and at low brightness levels the dots reduce to pinpoints of light. This is more noticable on SAM games than WPC which only have four levels. Also the red, green, and blue LEDs are not as close together as an LCD. For some colors like magenta, the spacing between the red and blue LEDs is visible. If you zoom in on the purple balloon picture above, you'll see what I mean.
Then there's the aforementioned questions about reliability of the panels (there are 4096*3 LEDs and if one goes out it will be noticable) and whether the ghosting can be eliminated.
The main advantage from my perspective is the form factor. These displays will work in a lot of places the LCD won't.
Looking forward to getting feedback from others at TPF.