Contrast Ratio funda

Contrast ratio is probably the more important factor than resolution when you plan to buy LCD TV.
Its the ratio between the brightest whites to darkest blacks. For example if I say 100:1 is the contrast ratio, then the darkest black is 100 times darker than brightest white.
Static or Native contrast:
Static contrast is the actual contrast of the LCD TV but almost none of the Manufacturers give the actual figure. Instead they give Dynamic contrast ratio
A Dynamic contrast ratio is the ratio between the darkest blacks and the brightest whites that a display can show on its screen but not at the same time.
Dynamic contrast ratios will obviously be higher than Static contrast ratios. Often this is misleading.Each one of the manufacturers follow their own testing methods and its difficult to get to know the actual static contrast ratio.
Usually dynamic contrast ratios are 10 to 20 times the actual contrast ratios.
For example if a manufacturer gives dynamic contrast ratio as 50000:1 then most probably the static contrast ratio lies between 2500:1 to 5000:1.

Many websites say increase in contrast ratio means more image and color details on screen which is Not TRUE
Infact it depends on the number of grey shades between perfect black and perfect white. It is called the shades of gradation
Unfortunately almost none of the manufacturers actually define this parameter in their specifications :-(

So how much contrast is good for me?

Ok...a static contrast ratio of 1000:1 is morethan enough for a normal human eye. Anything morethan that will be difficult for human eye to capture.
A wonderful article on contrast ratios is given here
The above site helps one to understand more on contrast ratios. But for the time being don't just carried away with big contrast ratios.
A good contrast ratio is good to have but after a certain contrast ratio figure (1000:1 or 10000:1 dynamic contrast ratio), it really doesn't matter much how much more the figure is.