Quoted from PeterG:I just love the dots from that era. Do not get me wrong, I have modern LCD's also in JP BKSoR. But I like that those dots tell the story. Going color for me was always with LED, I like to total blackness of LED and the vividness of the colors. Next to that the formfactor is one-on-one.
So let me get a few things straight here (and have a few things straightened out for me). So an original DMD uses a grid of 128x32 dots. Each dot in the 128 x 32 grid is a small cell filled with a mixture of noble gases (mostly neon). When high voltage is applied across this cell (by intersecting row and column wires), the gases excite into a plasma state, giving off photons. Those photons then organize to tell you how bad you are at pinball. [good quote from the website Blondihacks] In theory, these give off a flat, presentation.
Introducing the Color DMD in its LED and LCD varieties. The LCD uses pixels to draw the dots (and has all these other "smoothing" and "dotXL" modes) and the LEDs use 128x32 actual LEDs that light up to recreate the dots, dot for dot. Let's assume that if we install either of these, we will have the settings as close to the original DMD settings as possible (for our purposes here let's not bring he extra modes the LCD adds to the factor).
Again, since I am a video person and a visual lighting perfectionist, here are my opinions, strictly speaking in terms of maintaining visual integrity to the original plasma DMD. I am a firm believer that the LCD in regular dots mode is mode is as close and true to the flatness and dot rendering of the original plasma DMD image. With the the LEDs have a very slight reflective principal that I think does a poor job mimicking the the same look of the original Plasma DMDs, adding a very slight 3-Dimensionality that I don't think is reflective of the original look. I have also found them to be more reflective internally between the speaker panel and the outer display screen if not installed properly. While the colors are "more vibrant" in the LED version, I also feel that they don't handle an appropriate flatness through intensely bright areas as well as it should (again I would assume from some of the reflectiveness) that I just don't see in the LCDs. More vibrant doesn't mean truer to the original look of the display. Another big issue is the ghosting effects that it produces for those who are sensitive to that phenomenon (as someone who is constantly battling with room LEDs on video shoots, I am).
Just my two cents, but obviously either way, you can't go wrong with the ColorDMD products. They're both good. And for that matter, I would rather get an LED version for any of my DE games than permanently modify the speaker panel and inevitably screw that up. Will be placing a Color DMD LED order for my Rocky and Bullwinkle not long from now. If I had the chance to use the LCD, I would, but I can't.