Well, i have had the 55LE5400 for about a month and it's a keeper. I have it hooked up to a Comcast Moto HD cable box, a PS3, and a laptop. Viewing angles are excellent due to it having an ips panel. Color accuracy is very good too. Black levels are ok and acceptable, but not quite as good as the blacks on the 55ex500 cfl set that i compared it too. The matte screen works well in minimizing reflections if i have any lights on. This panel works great as a big computer monitor too. The Cinema Zoom 8 aspect ratio fills the screen perfectly and text seems crisp to me. One other positive is how cool this puppy runs. Here are settings i have found to work well for me, although done just by experimenting:
Backlight - 10-30(Closer to 30 for daytime viewing and closer to 10 for nightime viewing.)
Color - 60 for hd cable box, 50 for computer use
Color Temp - Warm 30 for hd cable, neutral for computer
Tint - 0
Contrast - 90
Brightness - 60 for hd cable box, 50 for computer
Sharpness - 50
Black Level - Low
Gamma - Medium
Advanced Controls - For the most part i turn all the rest of these enhancements off.
Trumotion - Off most of the time. You CAN adjust blur and judder settings independently if desired.
The other edge-lit led sets from Sony(ex700) and Samsung(6300,6500,ect.) get much more attention here than the LG 5400. All i can say is i am pleased with mine and based on the many positive reviews at Best Buy and Walmart, I'm not the only one.