Can someone explain the pros/cons of 60hz vs. 120hz for TVs

Thinking about getting this TV since it's on sale (and an actual brand-name, not some shitty westinghouse on black friday). http://www.bestbuy.com/site/samsung-55-class-54-6-diag--led-1080p-smart-hdtv-black/7068146.p?id=1219668746715&skuId=7068146&ref=06&loc=01&ci_src=14110944&ci_sku=7068146&extensionType=pla_multichannel:g&s_kwcid=PTC!pla!!!78893789591!g!!86769283031&kpid=7068146&k_clickid=25671cdc-5bd7-4643-8954-00cda8d05e07&lsft=ref:212,loc:1&ksid=25671cdc-5bd7-4643-8954-00cda8d05e07&ksprof_id=16&ksaffcode=pg1768&ksdevice=c&gclid=CjwKEAiA7MWyBRDpi5TFqqmm6hMSJAD6GLeApka6TJFgv_BH248qF0xJGGBIOJlJuPX1OISAxRGdFRoCsqrw_wcB

It is 120hz. What are the main differences between it and 60hz. I heard of some thing called the "soap opera" effect on 120hz TVs. I think they are better for sports and games...but wondering about everyday TV watching. Thanks.