As far as I can see the 32HL86 is similar to the 32HL66 but lacks ATSC tuner, there is not much positve feedback about it from owner's.
Here's a quote from avsforum:-
Hey guys, I am from Canada and I have recently purchased the 32HL86 and after exchange it for a 32HL66. One thing that I found interesting is that even they both have the REGZA brand on them, only the 32HL66 is advertised as using Pixel Pure. Here are some other differences I manged to find from a functionality point of view:
32HL86 VS 32HL66
- No Dynamic Contrast on 32HL86
- Max VGA resolution XSVGA 1280 x 1024 vs 1024 x 768 on the 32HL66
- Backlight control (black uniformity) present only on the 32HL86
- Input Labels (on the 32hl86 you can type in the text vs choosing pre-formated labels)
Overall, 32HL66 has better image, crisper and the colors look much better. There is less color bleding when using SDTV. I loved the fact that the 32HL86 was able to display 1280 x 1024 but I remeber reading somewhere that is 1280 x 1024 compressed so it might not be that much better than 1024 x 768.