I was in Fry's planning to buy the TOSHIBA 46XV645U after researching for a day. I'm very price sensitive, so my range was 1100-1200 pretty much, maybe willing to go up to 1300 if the TV was a very good deal. I thought 46 inches was surely large enough for my living room (maybe 10-12 ft between me and the tv), and 120hz would be an upgrade over my 3 yr old 37 inch tv.
When I was looking around the store (for the second time) I started looking at the LED tvs, and even taking things with a grain of salt for being on the show floor, this Sharp set looked much better than the regular LCDs around it. It didn't cost much more (1169 I think at Fry's), and LED lighting seemed to be an improvement, even if I didn't know much about it. I know about the power, heat savings, but as far as picture difference I don't think I know enough about TVs to say, especially without another TV at home next to it to compare to.
After bringing it home yesterday, assembling it (doesn't take very long, but I don't understand why the curved side of the stand is in the rear), hooking it up (took me a few minutes to find the power plug, couldn't read the symbol on the back with the arrow point up in the dark), I was very pleased. I don't have HDTV yet (saving money before the fall show season starts up again), but hooked up to my laptop playing videos was very good. I can't compare to my old TV but my impression is that it blows it away.
While trying to research this set (after buying it, probably not the best idea, but 30 days for return at least), I was very disappointed to find almost nothing on it (except this thread, as has been previously mentioned). I wasn't aware the set was so new, and that's why there weren't reviews and whatnot around. As a normal consumer that should probably not even being posting on AVS forums due to my non-tv-phile ness, I wanted to say that I'm very happy with my purchase, in price, technology, picture quality and size (the thing IS super light for a TV). The only lingering question I have is whether or not I should have bought a 46 inch TV (the Toshiba) instead of the 40 inch, because larger screens I can definitely 'tell the difference' and not think its a subconscious effect.
One last note, as far as the lack of local dimming, I don't think its a huge deficit. Upgrading from a normal LCD panel to this one it's obvious how much better the blacks look. I haven't seen local dimming side by side with this, but even if this is only 80% as good as a local dimming set, it seems like the price increase (and wait) wouldn't be worth it.