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adriane23 said:

Generally LCDs have lower input lag. It's just a fact. Also, low end brand name LCDs (e.g. Toshiba) have really high input lag times and low input lag times depending on the model. A low end brand TV can have a far higher input lag time as well as poor picture quality compared to a high end brand TV. It's actually fairly inconsistent for all TV brands, as far as I've seen.

LCD TVs also have to be in game mode to have that low input lag -  which turns off some image processing and in turn reduces picture quality.

To what extent the picture quality is reduced in game mode also depends on the model.