With newer LCD's at 120hz ghosting does not exist.
This is absolutely, completely not true.
For the past 3 years, I've been looking for an LCD TV to replace my Sony XBR 400 HD CRT. While they have made leaps and bounds, to say the LCD TVs and monitors do not ghost, or blur during fast movement, or match CRTs in the contrast department... well it's just not true.
I've tested the Samsung 650 - 950 series, the Sony XBR 2-8 series (XBR 8 is actually HORRENDOUS with the ghosting), newer TVs and monitors from Toshiba, Westinghouse, and Phillips. All of them ghost. All of them blur unless you put on the interpolating motion enhancement (which adds delay to the response time and in my opinion, is unusable for games). Other TV tech blurs as well including plasma and Sony's SXRD tech. It boils down to the progressive style in which these TVs display images. In HDTVs (non CRT), the picture is displayed progressively, that is, one frame leads right into the next. In CRT TVs, the picture is strobed, which reduces the blur at the retina of the eye.
http://en.wikipedia.org/wiki/HDTV_blurSome newer brands have of LCDs have tried to simulate this strobing, but by my own eyes, the tech is not there yet.
The base test I do is to hook up one of my game consoles (either Wii, PS3, or Xbox 360) and play a side scrolling 2D game (usually Super Mario World or Castlevania Symphony of the Night). No HDTV or monitor (that isn't CRT based) is able to display side scrolling without a significant loss of detail, either at 480p or at 1080p. In fact, no HDTV or monitor I've tried has been able to display a 60 frames per second 3D game without blurring. Keep in mind that if you play a 30 frames per second 3D game, there is natural blur in the frame rate, so you probably won't notice the blur induced by the TV.
If you want, I can dig through the various threads on the AVSforums where I've posted the results of my testing. If you do know of some magical LCD that does not blur, let me know the model, and if I can track one down I will test it. I am as eager as the rest of you for a replacement for my 300 pound CRT.