Which tv, and what is response time?

I am looking for a new tv and just wondering if you wanted the response time lower or higher, like 5ms or 8ms which is better. I already know I want a tv with at least 120hz refresh rate, 1080p, LCD, 42" or bigger, and a nice high contrast ratio(regular contrast not dynamic). so any tv recommendations would help to. oh yeah and I have $3000 to spend on it(won it on a lotto ticket).