You are right ... smart dimming does fix most all of that except for the blooming ... that only occurs when the smart dimming is on ... when off no blooming occurs on this TV.
I have found great settings that almost do away with light bleed, flashlighting etc. without having the smart dimming on cause I hate the way the blooming looks with that junk setting on ... it just looks to weird when there are black on the sides with images in the middle and you see the blooming light passing through the black to illuminate the picture in the middle of the screen.
Smrt Dimming is just a junk setting .... and let's not confuse Smart dimming with " Local Dimming" .... two different things ... and smart dimming is horrible as compared to Local Dimming ... local dimming is rear-array panels .... they have clusters of LED actually placed behind the picture and not on the edges ... not THAT is what Dimming is suppose to be ... just like my 3 or so year old Vizio XVT with Local Dimming AMAZING picture and picture perfect local dimming. These slim flat edge-lit cheap panels they have now are pointless to have any kind of dimming.