Led Tv Set: What Is The Difference Between 120hz And 240 Hz? Any Significant Picture Quality?

For example, I am looking at a Samsung 40? UN40B6000 and 46? UN46B6000 HDTV set. Both of them use 120hz frequency. But I noticed that there is another Samsung series that uses 240hz but the price is much greater than a 120hz set. What are the pluses and minus with using both? Should I wait until 240hz is standard with all LED tv sets?





Also can someone explain what does LED backlit LCD mean? Is this a true LED tv or just an LCD tv that has been modified or spruced up to act like an LED tv?
thanks.
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