Maybe, providing that 1. it's actually in excellent condition and 2. that it's not one of the really cheap models that Walmart or K-Mart were selling. Best Buy sold them as a Black Friday special one year too.
Get the model number and run it through Google and see what the features are. Check the contrast ratio in the specs and the number of inputs. The really cheap units only had 2 and the contrast ratio was really low.
Panasonic plasmas are great units both for longevity and picture quality. They are energy star rated and consume less energy than many LCD TVs. Longevity is not an issue; they usually last longer than an LCD with less darkening over time than an LCD.
I'd want to know why they are getting rid of it. And if it's a wishy washy answer, I'd avoid it. They're trying to cover something up. Now if they're moving, don't have room for it, decided to go 3D or something that sounds like a feasible, reasonable excuse, you might just be scoring a deal.
And plasma units are not more prone to burn in that LCD. ALL will retain an image if the screen is allowed to remain static for a long period of time. Panasonic does has a "maintenance" procedure that you can run (need the manual for instructions) that will wipe any retained image from the screen unless it's been really, really abused. Gaming is not an issue either; the sets have a gaming mode.
720p isn't an issue unless you're really into Blu-ray movies. Most broadcast TV is coming down in 720p anyhow. And the Panasonic's have such a great picture that no one will walk into your home and say "Oh, you have 720p!". They won't be able to tell. Resolution is not the whole key to a great picture.
I looked and looked when we decided to buy a flat screen for our living room. We watch very few movies; the unit is used more broadcast TV 90% of the time and playing the Wii. The living room turns into sports central on the weekends because husband and sons are sports fans. I looked at the 720 and the 1080 side by side and studied them for weeks and couldn't come up with enough difference in picture quality to justify the additional cost.
I'm a Panasonic demo rep and have a good deal of knowledge about the product and the technologies behind them and I bought the 720p unit and we're very happy with it. I've been a rep for 5 years and have had numerous return customers. Many bought the 42" and come back for something bigger in a few years and move the smaller one to the family room or a bedroom. Or they've finished the family room in the basement and want the larger TV for the larger space.
If you watch sales you could get a new one for around $800, sometimes less.