I bought this last week, and since I don't have my own XBOX or PS3, can't really comment on it, neither on the OTA HD signal. However, HD DVDs look beautiful. Granted, is not a Sony or Samsung or Pioneer, or any well known brand, but it's at a good price.
Make sure you use something like the THX Optimizer (found in many DVDs) to get the best out of the picture quality. Also, the TV's speakers are the main turn-off. But overall (having had a 32" Dynex that my brother now uses with his XBOX 360, which looks really nice), a great TV so far.
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