I don't know exactly what you should do about the color but as far as lines and logos looking bad it sounds to me like you need to turn the sharpness way down. If it is too high it makes lines, logo's, and text look really jagged and bad. When I first turned my 42" LG on the sharpness was turned to 60 or so and was a horrible picture. I now have it set to 5 and it is a drastic improvement. This seems to be common to all LCD's. Why the sharpness can be tuned as high as it can is beyond me. It's not needed in most cases and only hurts picture. Especially on SD channels.
I noticed the edge definition problem on my 47LG50 last night. I had the source connected through the component cables at the time. Once I connected through the HDMI cable though, all the edge issues went away. Its as if the TV became a computer monitor instead of a TV.
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