120Hz vs 60Hz

I already own an HDTV, an LG 47" 1080p from before TVs were branded with their Hz rating, so about 3 years old. I'm looking to add another HDTV to my home, primarily for TV/Blu Ray use but also some PS3. I'm trying to decide between 120Hz and 60Hz. I'll be getting a TV about 40" and while I'm very happy with my LG I'd also be ok with Samsung or Sony or any other top-end brand, but am not interested in Vizio or any other low-end brand.

My biggest concern is, is 120Hz worth the extra money? I've been looking at 40" LG 60Hz for about $550 at best buy and the same in 120Hz for about $850, and while I have no doubt that 120Hz is better, is it worth the extra $300??? Can someone explain to me what exactly the improvement is, and maybe a few people put in their two cents regarding if it's worthwhile or not? Thanks!
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More about 120hz 60hz
  1. Yes, I've seen some picture bluring of up close fast motion with BluRay on my 60 Hz Tv. I'd recomend 120hz minimum for BluRay viewing.
    Before you buy your new Tv though connect the BluRay player and watch Iron Man.
    Pay close attention while a character moves fast up close.(see any bluring)
    If you like the way it looks then save the 300 bucks.
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