Use a wired controller.
 
Also, don't use 120hz if that's even part of the issue.

Are you talking about input lag? I guess game mode is your only option. My toshiba 120hz hdtv has zero lag, however it's a bit grainy for blu ray so I don't recommending that highly. My other sony bravia has a slight input lag with the 120hz setting, so i'm not recommending that either.  
 
Have you tried game mode? Sure it looks aweful, it should cut down on the lag. 120hz should cause lag, with the exception of my toshiba hdtv. It doubles the frames with interpolation (adding a frame inbetween) so it should give you input lag. Turn those things off might help.

I have a 46' full HD plasma and there isn't a problem with latency. I know plasma isn't in vogue with the tech dudes, but I am very happy with it.  It's a Panasonic Viera. I didn't buy another LCD for my gaming room because of the latency. My 27' Samsung has the exact same problem. The "Game" setting helps with latency , but I can still notice it. 
 
I am by no means a tech or TV guru, but I play a lot of games and I prefer my plasma over my LCD any day. I got it about a year ago and I am very satisfied with my purchase. My only complaint is that plasma TVs run warm, making my gaming/computer room even warmer.

I bought Samsung 6 Series 46" FullHD. 
It is very nice TV. 4 HDMI ports, 2 USB, Ethernet. It has built-in media player for viewing Videos and pictures from USB or network. 
Games look great. But not always play that way. 
First thing I did when I hooked it to my console? I did latency test using Beatles Rockband Rickenbacker Guitar. 
 120ms for video and audio dissaponted me. 
It is great for most single player games. 
But I miss in quick times events here and there. 
Playing online is no better, because it has its own latency as well.  
I have sound coming out of y PC speakers when I play rockband.
So I play several games using FullHD monitor instead. 
 
I would like to find out the panels above 46" and receivers with 0 latency.