I've read where there was some visible moire and a few jaggies when deinterlacing, shadow detail and black level are not the best (but not necessarily terrible), excellent colors, and (with certain settings) very smooth motion.
I have a friend with a Vizio who complaining about banding/false contouring, but it might not be this model.
I suppose what I mean to say is, although I won't comment on the specific price, if you're not worried about absolutely pristine video quality, it could be one of the best values out there in the budget category.
Badger, what do you think of your Vizio now that you've had it for a while? I'm eyeing a 47" Vizio from Sam's club for a very fair price and value any feedback you have of this maker.
I swear I'm ruining my eyesight by using an old 27" tube-style television for Killzone 2 and other PS3 games.