Nice picture - however darker shades of red displayed in contrast to a dark or light background the red tends to bleed into the background - you can see this when playing gears of war (multiplayer team selection menus).
While this tv does offer good HD reproduction for movies, and will take a 1080p signal over hdmi... I believe it has seriously been stripped down, and is rather lacking in customisable menu options. If you intend on using it for gaming I would personally avoid, despite the quoted response time of 5ms.
Others on here will probably testify to this tv, and perhaps i have a dodgy setbut I simply cannot live with it for my xbox 360 / ps3 gaming and I believe the source of my woes is the Pixel Plus 2 processing, which on this model simply cannot be turned off for HD sources.It might be just me as I've said but the Pixel plus 2 appears to me to "reduce" the number of frames being displayed on the tv resulting in some games playing slower than others - making games such as Stuntman Ignition, Gears of War (partially) and some others hard for me to enjoy.
As a result im now looking to move to a 1080p set, and will be moving this set down into the living room for our sky box. Its SD performance is stellar with Noise Reduction enabled and in the Soft Picture mode!
All depends what you want it for tbh and the price you have to pay - for HD content / movies, it's above average, with decent SD performance for a set of this price. For gaming, in my opinion - avoid