I have the E701-A3, original purchase was May 2013, went through several replacements with Vizio due to screen going black (turning off) during dark scenes in videos, until they finally sent me a model that did not have the defect, which I received in October 2013.
In the past few months, I've been noticing bright spots showing up on my TV, and getting more noticeable. Initially I just assumed some guest had poked my screen, but then I found more spots, and luckily found this thread, verifying that it's a manufacturer defect.
Vizio informed me that the standard 1yr warranty has of course expired, but this issue specifically extends the warranty by 1 additional year (from date of original purchase), which means I only had 1.5 months before Vizio would no longer remedy this issue.
I sent in photos of the issue, Vizio confirmed, and now they're sending me the E70-C3 as a replacement. Looking at several websites, the E70-C3 isn't even in stock yet (checked Amazon and B&H). It's got some nicer features, at a cheaper introduction price (I purchased the E701-A3 at $1578, whereas the E70-C3 is $1399, both prices from Amazon). While the reduced price has me slightly concerned that they've gone cheaper on this model somehow, it's lighter, has full-array backlighting, VIA+ (finally, replacement for the outdated VIA suite), and is 240hz vs 120hz of the E701-A3.
I was even informed that Manna will even unmount the defective TV, and mount the new TV back onto the wall for me, which is a relief, as unmounting/remounting can be a hassle.
It really sucks that I've seen so many issues with the E701-A3 model, but Vizio's support has been fairly solid throughout. I just hope the newest TV returns back to the build quality that I'm used to, as I have a 55" Vizio in the bedroom that I've had for ~6 years now, runs great, never an issue...