I'm in the market for a 46" LCD and I don't think that one would be on my shopping list. Obviously here I'm more inclined to a "when in Rome" sort of mindset. I've pretty much decided that any consumer electronics I buy from now on I'm gonna get a 5 year warranty, which here costs between 1-5% of purchase price. The extended warranty for that one is 20% of the cost for only 2 years.
Specs look good, but I noticed when I was shopping that standard definition upscaling was vastly different from brand to brand. After seeing the various differences, I'm not sure I'd buy a TV without seeing it in person.
Also, I wonder what the actual contrast ratio is? 8000:1 is their marketing fluff number.
Specs look good and the reviews I found on the web are positive. However, quality is subjective, especially if it's your first big screen. I'd make some calls around town and like Binary said, see if you can see one in person.
Yeah... the thing is that you can pick out a lot of cheap, large TVs that look good in HD. If they don't watch primarily HD sources, though, it really might look like ass. It's not the difference between a great TV and a fantastic TV, it's the difference between a really bad viewing experience and a good one.
Also depends on their viewing distance, though. My Olevia TV has only a mediocre upconverter but our sofa is about 10' away from the TV so it's virtually unnoticeable.