I actually bought this LG 47LV4400 (new/used) on Ebay for the low low price of $450. For that price, any 1080p, 120Hz, 3HDMI, 47" television is worth it. Those were my criteria for a decent tv.
To be fair, I'll add these disclaimers. I was upgrading from a 37" 480p CRT. I have never personally owned an HDTV but have had plenty of experience viewing others from my friends. This tv is an LED 1.8" thick product and I will judge it as such.
Value: As I've mentioned before, great price although i have high standards and can be very patient in order to get what i want for the right price.
Features: I want to mention the features first because it seems as if some people don't realize there are two menu options. One menu with the given remote is called "QMenu" or quick menu. this menu allows you to cycle through the presets on the tv such as "standard, vivid, sports..." for picture as well as sound, picture ratio, sleep, and captions. These settings are alright but obviously everybody's eyes see the world differently so you have the option to adjust them via the "HOME" option. This menu allows you to change picture contrast, brightness, sharpness, color, tint, color temperature, "fresh contrast", "fresh color", gamma, black level, eye care ... and that's just for picture. Honestly, these are more options than I could ever want but more than enough to make the average person happy. One of the determining factors on picture brightness is actually the energy savings mode. Putting it on maximum darkens the screen but you would obviously save energy. Turning it off makes the screen really bright.
Picture: I hooked up my xbox and switched it to HD settings. Finally I can read the words on video games! Everything is crystal clear and it has made the experience much more enjoyable. Picture quality is not going to look fantastic if you plan on watching regular cable (EDTV) because it broadcasts in 480p anyway.
Sound: It's not the best sounding but its not terrible. I keep the volume around 10/100 and i sit anywhere from 8-20 ft away. Those reviews that say they need the volume on 90 must have it sitting out in the middle of an open field or have carpet on their walls because if you know anything about sound propagation, it would never need to be that loud. My TV sits near a corner which naturally makes the sound about 50% louder than normal. Placing it against a wall would increase the sound by about 25%. I notice that the commercials tend to have poorer quality. Perhaps it's the loudness or just noise in general but I don't have a problem with programs. Keeping in mind that the tv is 1.8" thick, I didn't expect amazing speakers. As suggested by others, you can always get or use your current sound system.
Other thoughts: I love that it only weights 40 pounds. I was able to move it around and set it up myself without too much difficulty.
The screen is MATTE which is great when it comes to reflections. Don't expect no reflections at all but it is much better than glossy.
3 HDMI ports, Component ports, and a PC port will all come in handy.
The stand is completely sturdy. It even comes with an extra screw to ensure the tv doesn't tip over if you're worried. Although the stand is sturdy, the TV itself is large enough to wobble because of overhang/levers and such but it shouldn't worry you much because how often do you touch your tv? Just be as careful around it as you would be around any expensive equipment.
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