Has LED caught up to Plasma?

I know that the plasma tv's in the past were always considered to be better than the LED or LCD formats. I'm wondering if this is still the case. With improvements in technology, has the gap narrowed? I bought a 42" Panasonic Plasma over 8 years ago (and yes, it's still working...wished it would have died by now! lol) and am looking to upgrade to a new 55" tv. In all honestly, when I chose plasma back then, I thought the picture quality of both the plasmas and the LED/LCD models were both very good. Even though my plasmas has lasted all these past 8 years, my big concern is that they do heat up quite a bit....where LED's run much cooler. I'm thinking this might translate into a longer life with and LED tv instead of a plasma. What would you buy today if you were buying??? Plasma or LED?
IMO Panasonic and Sony are the best TV's available. Only ones I buy. What are they going to make, I wonder, if not TV's?
Addition to my previous post, obviously they make other electronics. I would just think TV's are a major moneymaker.
I have BOTH -I prefer my Panasonic plasma by a good margin vs. my Sony LED set -The Sony unit makes everything look like it was recorded on a camcorder..Its clear,with great color, but not filmlike ala the plasma...
CRT is better than allof'em.

Had 2007 model of Panasonic Viera 42" plazma. Nice picture although not too many adjustment options. Consumes 4...5x more energy than CRT! Recently the digital board blew off. Part itself worth more than remaining value of TV. Tried to pitch it $225 to Pawn America hoping that after the break would turn back on for 5m, didn't happen darn! Destined to stay in basement full of dust and spider web.

Modern LCDs or LEDs don't promise any reliability in the future only to be disposable entities no matter how much you're paying for'em. So my advise don't buy'em used eva 'n stretch for the warranty plan because they will FUBAR.

Found on CL used Sony 32" full HD CRT $80 and this unit has superior quality than any of flat screens mentioned and will ever be made LED LCD or plazma. The only downside is limited size. The largest flat screen CRT ever been manufactured is only 34".

Plan to buy more of them:-) in case your flats will break or you'd like to see a better picture, drop me a note and I'll resell these units $250 firm.
Your premise is wrong. Plasma was surpassed by LED with the Sony Qualia 005 in 2004. You would have to see one to believe how good a tv can look when it reproduces the entire color spectrum. As far as I know, NO LCD tv reproduces the full NTSC broadcast spectrum.