It's an excellent set in my opinion. The color, depth and motion impress and to compare in my house I watched Tron Legacy on it last night and the extreme color contrast on that movie looked awesome! I then compared it to the experience on my living room plasma and there was no comparison. The plasma (2009 LG so take with it what you will) seemed very tame and sort of bland, a lot less pop. I'd ditch my plasma for a similar sized one of these in a second if money grew on trees.
The things I can see room for improvement and something professional reviewers would concentrate on I'm sure is that on all black screens during transitions there is a bit of clouding and unevenness. The dark shots have some glow in a dark room so that's the thing to consider when looking at other sets is if they handle blacks better. This isn't bothering me because I expect this with LCD's especially without full LED dimming and the shadow detail and contrast in bright and dark scenes is very good. I'm not sure what a professional calibration would do, but it can only help as I'm just using the built in Picture wizard.
There's also a couple things with the remote/menu system I'd change. I would like to have a dedicated sleep timer button instead of having to navigate the quick menu to turn it on, not a big deal for living room use though. Also just to get to the tv settings menu you have to navigate the smart tv menu with several clicks and that could be streamlined with a button on the remote that went straight to the TV Menu.
The included extra's you get with the set are nice, like a wifi dongle, magic motion remote which is more than just a gimmick, back lit remote etc. The position of inputs on the back is perfect for mounting real tight to a wall and viewing angles are good enough you don't need to point the tv perfectly at your seating position.
Out of curiosity, have you compared the picture with the Samsung xxD6000? I looked at the two sets today, and although there were some minor differences, for the most part, it was difficult for me to tell. However, this might have been due to the glare on the D6000, which was positioned right by a bright light inside of the store. The glare was awful
This will be my first LG tv and my first LED tv. Totally pumped!!!