I've been playing around trying to get a setting I'm happy with so I can just leave it at that. It's a shame that the TV doesn't remember picture settings for each input souce along with individual Dynamic Contrast and Brightness Sensor settings really (so you can, say, have them off for console games via component but on for DVDs, etc.) but at least you can edit the four presets so it's not a total loss.
My current settings are:
Dynamic Contrast: OFF (although it improves blacks, it masks some detail when watching DVDs and makes the colours in console games look too "harsh".)
Brightness Sensor: ON (This seems to help improve blacks when watching TV at night with the light off. With it OFF, the backlight is on full and makes them appear dark grey.)
Contrast: 85
Brightness: 55
Sharpness: 25
Colour: 50
Tone: Normal
My Colours: Default
They seem to give me a nice vibrant picture from all sources, both during the day and at night. I've been adjusting them over the last week but my settings always return to these!
P.S. Does anyone know why when you turn the (soft-modded) Xbox on with component video connected, that the picture appears overbright until the Dashboard kicks in (I've got that set to 480p)? Interlace looks too bright and then when progressive scan is activated the picture looks fine!
P.P.S. There are four pre-set picture settings: Custom, Dynamic, Standard and Movie but presumably they are all the same albeit using different settings, in other words if I change the settings the same for all four will I get an identical picture or do they have something built-in to them to make them each unique?