Here are some settings I've come up with over the last 2 weeks. I haven't settled on anything but I thought these might be helpful as the crazy high contrast factory settings are horrible for this TV. I used serialmike's settings for his 60" EX500 as a launching point: http://www.avsforum.com/avs-vb/showt...1#post20466721
Then I tweaked them based on my on personal preferences (fairly saturated colors, pretty inky black levels, low noise but with as much shadow detail as possible...).
I'm not a gamer so these take no gaming specific concerns into account.
Custom Picture Mode
Backlight: 3 (I've found I can actually get away with 2 for Blu-Ray)
Color Temp: Neutral
Noise Reduction: Off
MPG Noise Reduction: Off
Advanced Contrast Enhancer: Off
Black Corrector: Low (I really like dark blacks but this does crush them a little)
Gamma: +2 (helps greatly compensate for the low brightness setting without adding noise)
Clear White: Off
Live Color: Low (gives the colors a little extra pop. kind of a cheat though)
BGain: -24 (needed when you choose neutral as the color temp)
Picture Size: Full Pixel
Power Save: Off
Ambient Light Sensor: Off
Skin tones are admittedly tricky. Some news shows and talk shows (Sports Center, Daily Show etc.) can feel quite over-saturated, but on regular TV shows and especially on Blu-Ray, I think these look quite realistic. Conan for example looks a little like a carrot during his monologue etc. but if he appears in a pre-taped video segment without makeup, he looks like a perfectly normal person.
I hate washed out and grey 'blacks' and as a consequence, my settings may lack that initial 'pop' people expect from a HDTV (especially in well lit rooms). They may also compromise shadow detail just a bit. Cheating up the backlight a little (and certainly turning off "black corrector") will help if you find my settings a little too dreary
So far I love this TV.