720p resolution is 1280x720.
The hd ready term only specifies that a screen must have at least 720 lines of vertical resolution so the panny plasma with a resolution of 1024x768 meets this criteria.
With sky hd being transmitted in 1080i and the new hd dvd and blu ray formats choosing 1080 as well the 720p format seems to be pretty redundant, in europe anyway.
So on the face of it in an ideal world the sony lcd seems like the obvious choice as it has a 1920x1080 screen. Unfortunately life is never so simple.
There is much more to picture quality than the number of pixels. Contrast ratios, colour reproduction etc are all factors and some people prefer these on plasmas than on lcd ( and vice versa for that matter ) so you could well prefer the picture on a lower res plasma compared to a higher res lcd.
Then there is the fact that you are still likely to be watching most of your television in sd for the next few years. How an hd screen copes with sd, and maybe more importantly low quality sd, is just as important as how it handles hd.
The picture processing involved in converting an sd pal signal to a 1920x1080 res is obviously much more intensive than on a 1024x768 panel and if the source is not of the highest quality the resultant artifacts produced can make the picture on the higher res screen look worse.
So basically you can't just go by pixel count. The best way to judge is to get a good demo of each screen, and let your eyes decide which you prefer

whilst also taking into account how you are going to use the tv.