New Plasma: 1080p or 750?

I'm breaking down and getting a new flat screen. A friend of mine suggested the Panasonic 42" Plasma with 1080P. But then he also says, most HDTV signals only broadcast in 750 and only some games and Blue Ray signal in 1080P, and that TV won't get to 1080p for years. Is that right? if so, no sense paying an extra $100 or more for a 1080P. Also, is LG as good as Panasonic? thanks
jb