I have received a lot of questions about HDMI 1.4, so I wanted to give a little information. HDMI is the newest version of HDMI that offers more benefits than the previous HDMI 1.3.
First, the newest version of the HDMI has the added ethernet channel. This allows for streaming from ethernet capable devices to the display. It will send the information at 100 mbps.
Second, it will support the new 3D tvs and players. Also, HDMI 1.4 supports resolutions into the 4Kx2K. Or put into regular numbers, 3840x2160 and 4096x2160. This resolution is much better than the 1080p that is very popular now. However, there are no sources that will output that resolution at the moment. On that note, it is capable of better color space. This will allow for more lifelike colors and deeper blacks.
Lastly, HDMI 1.4 has been feild tested against vibration, noise, weather, and heat. Therefore, it will be suitable to put into the car! This will allow for higher resolution monitors and screens.
Basically, HDMI 1.4 is better than the last versions of HDMI. At least for now. Given the previous versions only lasting 6 months before something new rolled out, we will have to see. But for now, I think that HDMI 1.4 is a safe bet and will continue to be used for a long time.