I recently bought this tv and it's great! The image is sharp, plays pretty much any video format (divx, mkv, xivd, etc...), only had an issue with a downloaded bluray in which the audio codec was missing, but the other blurays were perfect! sound included! The quality of the picture is simply outstanding, it's supposed to be HD ready and not Full HD, but to be honest I cannot really tell the difference. I have at my mothers place a 42 inches full hd led samsung tv and all I can say is that I cannot see any difference, maybe it's just me but also my girlfriend couldn't see it. This is definately worth it! Besides LED tvs are a better choice than normal lcd ones, lower power consumption, longer lifespan, better image quality and thinner! (Maybe Im missing something since Im not an expert).
I also play videogames on it, playstation3, wii and pc games via hdmi cable, the quality is as expected, just wonderful, no difference with my laptop full hd led screen from dell.
I also use to it to browse the web and do work, you can use it as close as you want, doesn't wear your eyes out and using the pc from 3 meter away feels great.
If you are looking for a cheap led tv, or even a lcd tv, don't doubt it and see it for yourself!