How good is this samsung tv for a gamer on a budget?

http://www.circuitcity.com/ccd/productDetail.do?oid=174197&WT.mc_n=67&WT.mc_t=U&c m_ven=COMPARISON%20SHOPPING&cm_cat=PRICEGRABBER&cm _pla=DATAFEED->PRODUCTS&cm_ite=1%20PRODUCT&cm_keycode=67

What are the pros and cons of it?
It's more than I was wanting to spend, but it seems like a really good tv. I have heard wonderful things about samsung.
I will be using it for hd tv via directv and playing games on my ps3.
it's only 720p how big of a deal is that?
7000:1 contrast ratio is excellent right?