Decided to go ahead and post my settings, with the usual warnings: these are not a substitute for actually calibrating your set, your mileage may vary depending on room lighting, some folks' tastes are utterly different and they may be completely horrified by them.
I got a VA panel; I discovered the serial number codes too late to exchange it. It was a bit of a bummer, but the blacks are lovely, I don't play many games, and I usually am parked directly in front of it anyway, so it isn't of crushing importance. Got a little flashlighting in the corners when the room is dark and the backlight is up, but thankfully, no clouding that I've noticed.
My tastes run to natural, subdued colors--no candy-colored bright oversaturated kid-friendly picture with bleeding reds and blue whites. Polar bears pee themselves and should appear dingy and yellow. The first few days I had the set, my eyeballs started melting every time an Apple or Progressive ad came on, and I knew something had to be done. I personally do not need my set to "pop" to be impressed with the color or picture. I'd rather the grayscale was semi-accurate.
Most of the credit goes to member Phase700B, who got me pointed in the right direction.
That being said, these settings look terrific on true HD channels and sports. On the SD channels, I have been using Standard mode with the contrast and sharpness cranked up. These Expert settings are a little dim for some televised movies and cartoons...there, you may want to stick with the preset Standard or Cinema modes. And TV news is no way to judge, either--the sets are so brightly lit and the anchors are caked in so much makeup that who knows what their natural skin tone is. These are for an HDMI input, and they work nicely for my digital cable box and DVD player. Have not tested these settings on a Component input.
I am watching in a fairly bright room with overhead recessed lighting and an off-white (french vanilla) wall behind the tv. In a darker room, you may want to dial down the backlight and contrast considerably.
H Sharp 56
V Sharp 52
All enhancements OFF
Black Level Low
Real Cinema On
Color Temp Warm
10 Point IRE
CMS (Color, Tint)
Hope somebody finds this useful. Enjoying the 5400 quite a bit; wish I could mess with the USB My Media settings, but have been using its Cinema mode and it usually looks pretty decent.