which tv panasonic plasma 42" or vizio 37" lcd?

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I would say it's worth the extra $50 getting the Panasonic.
RELIABILITY: Panasonic
SIZE: Panasonic
RESPONSE TIME (lack of motion blur): Panasonic
CONTRAST & COLOR: Panasonic

Plasmas excel especially in darker conditions. Panasonic is a more established brand than Vizio, the current leader in plasma technology, making its own parts and plasma display panels. And plasmas offer overall better picture quality than LCDs, especially in terms of color accuracy, black levels, and response time.

But...LCDs in general use less electricity and produce less heat than plasmas, and are sometimes thinner. Check the individual specs of each model though.