Just bought the Vizio L32 2 weeks ago from Sam's Club. This is a definite keeper.
I also own a Sharp 32" lcd, so I have had something to compare the Vizio to.
Let me tell you, there is not much difference in PQ between these two sets. I'll mention a few comparisons here in my mini review.
1. Black levels (very important to a lot of people) - The Sharp wins here. But not by much. During daytime viewing, the difference is non existant. Only during nightime viewing does the Sharp stick out, and even then the blacks are only a little deeper. Not realy a deal-breaker in my opinion.
2. Grayscale - There is no temp adjustments on the Vizio. (i.e. warm, standard, cool, ect...) However this is a non issue for me because the Vizio looks right on the money grayscale wise. More so than any of the temp settings on the sharp.
Vizio wins this one.
3. Colors - Equal here. Both tv's have great saturation of colors. Both look great in HD and DVD. The Vizio displays a bit more of a red push than the Sharp, but after cranking down the color setting I got rid of that. Even without losing the "pop" of the other colors.
4. HD Viewing - Equal here also. Both sets are stunning. No complaints here on either set.
5. DVD Viewing - The Sharp has a bit sharper picture here. I am using the same model of dvd player on both sets, so it's easy to compare. (a sony ns50) Color saturation is the same. The sharper more detailed picture on the Sharp could be because of the deeper blacks, but like I said, I'm not sure this is a deal breaker either.
6. PC use - I don't use either one of these as a PC monitor. I have a 26" Astar lcd/tv which I bought from Newegg.com that I use for that, and I'm very pleased with the quality of the Astar for PC use.
All in all, I'm pretty happy with the Vizio L32. We originally had the Sharp in our family room used for home theater purposes. Both me and my wife have agreed that the picture quality between the two is almost the same. With the exception of deeper blacks on the Sharp, which are not that much deeper, both sets are very comparible. However, the cosmetic look of the Vizio goes better with our home theater set up in the living room. So we've decided to put the Vizio downstairs, and the Sharp is now up in our bedroom. By the way.....the plan when we bought the Vizio.....was to go in the bedroom.