Turn off Dynamic Contrast Ratio.
Turn off Ambient Light Sensor.
Turn off Noise Reduction.
Turn off White Level limiter.
Turn off Black Level Extender.
Then get yourself a calibration disc like Disney Wow or AVS 709 or Avia and set the Backlight down to under 50 and set Brightness (black level) and Contrast Ratio (white level) according to the tests. Then bump the Brighness down a couple of notches and the Contrast Ratio up a couple of notches. Then punch up the Color saturation a couple of notches.
Then check out the picture with Adaptive Luma turned on and off, to see if you like it. Also try turning the Smart Motion Flow or whatever Vizio is calling it, on and off and at different levels to see which you like best. I say turn this on off unless you are watching sports.
Epson 8350 / Panasonic AX-200u / Optoma Graywolf 92" / Draper Luma 92"
Samsung 51F8500 / Panasonic P50ST60 / Vizio P502ui-B1 / Sony 50W700B LCD
Sony S790 / Panasonic BDT-220 / Roku 2 XS & Roku 2
Samsung F550 / Speakercraft CS3 / Yamaha YAS-105