Picture quality is good, although I had to mess with the color settings a lot (I'm still not sure I've got it 100% correct). There is some slight discoloration around the edges, but this is only noticeable when the TV is displaying one solid color.
I can't stand to have the smoothing option (called TruMotion) turned on. It's supposed to make TV look better, but I think it makes everything look like a soap opera. Luckily, it's easy to turn off (Menu>Picture>TruMotion). Note: you'll have to turn off TruMotion for each individual input. TV will look a little juddery without the smoothing, but it's a limitation of all 120Hz TVs, and it's a whole lot better than having TruMotion turned on (in my opinion).
That said, movies and video games look fantastic with the smoothing turned off. My Xbox 360 and PS3 games look great, as do Blu-ray movies.
I maxed out the 3 HDMI ports pretty quickly (Xbox 360, PS3, DVR), but I figure if I need another one, it'd probably be time to get a receiver anyway. It should be noted that there is only one set of component inputs.
Speakers are fine, nothing to write home about but they get the job done.
Remote requires you to point at a pretty specific spot (the lower-right corner of the TV). Kind of annoying, but I got used to it (I sit about 10 feet away).
The swiveling stand is nice (I turn it to face the kitchen when I'm making dinner), but it only turns about 20 degrees.
Overall, I'm very happy with what I got for the price I paid!