Which has better picture quality, LED or LCD TVs?

I would have to say LED. They have a much wider spectrum and they can also be seen (clearly) from great angles.

for example, my PMP is a Cowon S9 with a AMOLED screen that displays wonderfully even at close to 180 degrees.

So far LCD is better in my opinion. LED is new to the market and is priced to reflect this.You will pay about twice as much for an LED set.You will get a Very good picture but for less money you can get a superior tv in LCD.That being said the LED tv's are very thin at about 3/4 of an inch thick (super sexy!) they can be hung from a wall like a picture.The Samsung hangs from a cable!The features that seem to make the biggest difference are 1080P and 120 Hz. or better yet 240Hz.Check out the Samsung, my customers cant buy them fast enough.

Led

In my opinion Lcd is better, in picture quality that is.
LCD!