Generally, motion resolution on a 120hz CCFL backlit LCD is not as bad as the old 60hz. Though still not as good as a plasma.
LED backlit LCD's (120hz and 240hz) have excellent motion resolution. Though are pricy, and tend to be more expensive than comparable plasmas. LED backlit is preferred over edge-lit.
With LCD TV's, 60hz will produce judder with fast moving video. 120hz and 240hz eliminates this, but introduces picture artifacts.
Also, viewing angle on plasmas are way better.