If you go in to the specs on this new listing on Best Buy.com for the New! Coby - 32" Class / LCD / 1080p / 120Hz / HDTV, it says that the tv only has 60HZ, but the official listing for the tv shows 120 HZ. Best Buy or anyone who knows, which is right?
120Hz is nothing but marketing hoopla...it does not offer judder reduction or motion smoothing. It may reduce jitter when atching material encoded at 24fps, but offers no benefit whatsoever with anything else. All sources of material are 60Hz anyway, this includes DVD and Blu-ray.
Additionally, on a small screen like a 32", such differences wouldn't be noticeable anyway.