Looks like the Toshiba SV series delivers -
I'd seen good reviews but some were not so detailed on the local dimming. This one claims no fluctuations in picture are noticeable or measured. I was wondering earlier if these models are worth the increased price ie. twice that of a regular Toshiba 46 inch LCD TV. Arguably that might be the case, and the power consumption is still very good.
With these new models fromm Sony, Samsung Philips, Sharp and now Toshiba we are surely seeing some of the potential of LED backlighting.
If the price goes below £2000 and more sizes become available (32/42) I can see many people looking at this.