I just ordered a Vizio E420i-A1 and it supposed to be the same TV but smaller.
I can't find any information regarding the calibration or settings so I will be using what ever I get out of this Thread

Also will use Disney WOW.
So I asked Vizio before pulling the trigger and these are the findings:
The tv is direct-led(Vizio used term) = Full array, yes they said that.
True 120hz screen that takes 60hz signal and uses software and hardware to display it in 120hz. (very confusing...)
According to users reviews the viewing angles are bad but will find out soon.
If all goes south with this set I will be replacing it with a Toshiba 40L5200U.