I was lucky enough to be able to see both sets with a terrestial antenna feed, I put both sets in Standard mode and reset to factory settings for that mode. It was in 2 different stores on different days but the feed was the same high quality HDTV ota in reset Standard mode. The 1140 was decidedly sharper, smoother, and more lifelike in this comparison. Worth an extra 1k? Only you can make that determination. After a while I changed to Pure mode on the 1140 and the PQ was better still. Colors seemed more accurate. To my eye, the Elite model has something the 5070 does not straight out of the box that allows for a better overall PQ, don't know what it is, don't care, but its there. I was able to get a discount from an authorized dealer through the company I work for which made the price difference less, so I took the plunge on the 1140. Check with your company for discounts you may qualify for. I get discounts on all types of stores from Target to Lenovo Laptops to my Cell phone carrier. All this being said, If I was not able to get a discount, the price difference would be to great for me and I would have been thrilled to get a 5070, as the PQ is superb. Of course, I could only really tell that when I saw how well it displayed the HD OTA feed. The feeds in big box stores are seriously lacking in comparison. I honestly don't know how people can evaluate and make an educated guess as to how a set will ultimately look at home with a high quality source and cable connection.