Click to viewThis year seems to be the year that 240Hz HDTVs are getting attainable enough that you might want one. Revision 3's HD Nation explains what the deal is and whether or not you'd want it.
Jump to the 10:00 mark to hear the explanation. There are only two companies now (Sony and Samsung) doing "true" 240Hz.
The segment after that one explains how to calibrate your HDTV for not a lot of money, similar to our own calibration guide. [Revision3]
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DISCUSSION
So far, I haven't been impressed with 120 or 240Hz TVs. Maybe I'm too much of a purest- but I think it looks extremely unnatural. I'll take my non-120Hz non-240Hz Sony HD TV any day.