GO FOR IT!
The picture quality is beautiful . Hell, I don't even have HD cable. Just standerd def.
The only reason I got it for, is the PS3 and 360. And in terms of gameplay, I haven't encountered any problems with the response time. Even when I'm playing Call of Duty 4 or Ratchet & Clank, which have alot going on on the screen at the same time, it holds up pretty well. Everything is crystal clear.
When I hooked up the PS3 through HDMI, it detected 1080p as well. I tried it, and it does it at 60 frames per second. Don't know much about that though, so your guess is as good as mine.
The only thing I could complain about, is the remote. It feels cheap and it has a basic layout. Number pad, Menu button, Vol, Ch, etc. If you want to mess around with the picture and sound, you'll have to go through the menu system. Unlike other tv's which have preset buttons for things like that on the remote.
If you can ignore the remote--which I strongly suggest you do--, gor for it. I haven't found anything wron with it so far.