Is your input set to game mode ? That is supposed to take care of input lag on the tv.
ROFL...it's 2012...how do people not know about using GAME mode on their TVs when they are...you know...gaming?
In his defense, there are still a lot of tv's that don't have an option for it.
This is true, BUT his particular model DOES have a game mode. Also, OP, besides using that mode, I'd make sure your firmware is up to date for the TV...oftentimes lots of little fixes add up to improvements in areas like this. Here is your software: http://www.p4c.philips.com/cgi-bin/cpindex.pl?ctn=40PFL9705H/12&hlt=Link_Software&mid=Link_Software&...
That's not a treyarch/game issue man, it's a tv issue. I have a sony internet tv (google tv) that has terrible input lag, ended up just not using it with the ps3. It seems the tv's with insane refresh rates that upconvert running through a processor are terrible for gamming on. So if your tv doesn't have an option for game port you are kind of stuck with the input lag.