LED does not automatically mean higher quality than LCD. In fact, this is a bit of a misnomer because LED is LCD... You can get an LCD with LED backlighting, or an LCD with the more traditional fluorescent backlighting. Technically, the advantages of LED are that the TV can be MUCH thinner, they use less energy, and they maintain their brightness longer. In terms of picture quality, you can get a very high quality "LCD" (traditional fluorescent backlighting) or a very poor quality "LCD". You can get a very high quality LED, or a very poor quality LED.
If you're going to spend more than 1k on a TV, I'd do some more research on a site like CNET to see what works best for your situation. In my case, I did my research, then went to Best Buy and Costco and saw them with my own eyes. If you do the same, be sure to have the workers give you the remotes for the TV's you are comparing so that you can adjust picture settings!!! I cannot stress this enough. In my experience, the floor models in the stores are all over the map in terms of the settings they choose...
Here's a link to some useful info to get you started:
http://reviews.cnet.com/televisions/?tag=hdr;brandnav
Good luck!