Different manufacturers measure contrast differently, so you have to be careful what you are comparing. One manufacturer's 1000:1 is another's 1500:1. In some cases, you can't even compare contrast ratios for products from a single manufacturer, because the company's marketing "tweaked" the way they measure.
No LCD panel now on the market can disable its light output to display blacks. Current LCDs output light on every pixel 100% of the time. Since black, by definition, is the absence of light, you can't get that color -- you can only get very dark greys. The difference between the today's better LCDs and the best LCDs is how dark the greys get.
The first LCD to deliver "true" blacks may be the upcoming Samsung 81 series with LED backlighting and local dimming. Local dimming technology enables the display to selectively disable the light source in darker areas of a scene to produce true blacks, and hence much higher contrast ratios. Check out the forum's other threads on this display, which looks to be the first of its kind (hence, $$$). One year from now, this technology should be standard on all the higher-end displays from the major manufacturers (Sony, Sharp, Toshiba, etc).