Hi. xsc.. I have the 50 inch version and the pic is for the price great.
First check the software version ends in 166.001. If not then connect TV to the internet so it can update itself, or you can do the update with a usb stick. Once updated do a reset to factory settings and then unplug/disconnect the tv from the power supply for 10minutes. On restart the picture should now be excellent. It's worth noting that each input (Hdmi 1-3, usb, broadcast tuners, and sd/hd) have their own settings (not obvious from the menus) so you can adjust each to taste. Hope that helps.
I have the 55inch model had it just under a year and I am getting what I would consider to be really bad back light bleed. Philips don't seem to think it's a problem but my wife & I find it really distracting. Has anyone else had a similar issue? Thank you.