In the living room, and it will be used for porn and a random movie here and there.
Oh wait thats the one I want in my room. The living room one will be used for watching TV. I don't play video games anymore, however If I feel the need to get drunk with buddies and pull out the xbox and throw in some halo for battle, I don't want it to look like shit either.
If you have a lot of windows in the living room, go with an LCD, and LCD would also be better if you are going to play Xbox on it. I would recommend sitting at least 6' away from the LCD though as they tend to have slower response times than plasma.
I would look at the Sharp Aquos, best LCD's for the price.