HI Kavy,
I recently purchased a Samsung LED with smart TV.
It's great because you can watch internet video such as youtube and other online video. Another benefit is you can add social media to your tv watching. I haven't tried this out yet, but if you are watching a live broadcast, you can have an interactive ticker display tweets associated with the program that you are watching. You can also connect it to local media storage. I have a windows home server where I store all of my downloaded content. I need to install some software on my server in order to view my local content. I'll report back once I've done that.
An alternative to a "smart-tv" is to purchase a media streamer box such as WDTV, Roku, Boxee-Box, or a whole host of other media streamers. I hav WDTV Live and a POP BOX V8. Both of these play my local media flawlessly and allow me to play online video content as well.
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