Since no one else has chimed in, I'll try my best....
Although it's pronounced "Vega," it's spelled WEGA. It's basically marketing hype for a flat screen--both on the horizontal axis and the vertical axis.
The first WEGA set was the 36XBR200, which came out 3-4 years ago (I bought one, still have it, geometry issues and all, which all but appear to have vanished with the current generation of WEGAs). The current generation (e.g., 36XBR450) is a bit pricey, but you can sometimes find a deal--they sell like hotcakes.
As for WEGA technology being old, I'd call it mature--they had horrible problems with corner geometry in the original series, which seems to have been eradicated in the current generation.
It might help if you could tell me which models you are looking at and what you're looking for in a set (e.g., lots of DVD, no DVD, DSS, etc.). Honestly, I think both lines are very good, but you'll get a better deal 9 times out of 10 with the Panasonic. It's up to you to decide which picture looks better!
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