I've had this TV for a week and so far the only real problem I see is the silk screen effect. I should have noticed it in the store but I guess I was so excited to get a 47" 1080p TV for such a low price that I didn't stop to consider the disadvantages inherent in rear projection TVs.
From what I've seen, most rear projection TV's have the silk screen effect to some extent. I would describe it as a sparkly effect that gives a texture to whatever is behind it. It's most visible when there are solid colors on the screen. The effect doesn't move around but when you move your head, it seems to shimmer - kind of like the prism effect of water droplets on a TV screen. I honestly didn't notice it for the first few minutes I used the TV but after a while, I can't NOT see it. It's really starting to get on my nerves so I think this TV is going back - just as soon as I can decide what the replacement will be.
For the money, if the silk screen effect doesn't bother you, I think this is a killer TV. I love the menus and with game mode on, Wii and Xbox 360 look fantastic with no noticeable delay.