The Blu-ray player will indeed work with your PLCD. it will only display the image at 1920x1080p if your TV is capable of accepting a 1080p signal over its HDMI connection. Otherwise your TV will recieve a 1080i or 720p signal from the Blu-ray player.
At the current moment, I am not aware of any PLCD tvs that accept 1080p over HDMI. I know that the current generation of DLP's do, and the new Sony SXRDs do as well.
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