There is absolutly no reason to buy a monster HDMI cable. There is no digital degredation. You'll either get the picture or you won't. I hope you didn't pay more then 25 bucks for that thing.
As for the TV, I'm surprised it's made in belgium. I wasn't aware of any LCD glass factories there.
Is this the TV you got? Looks pretty nice if so....
http://www.store.philips.com/b2c_red...IRECT#features
I thought LG was making Philips LCD glass?