We've just installed the new TV my mum bought a few days ago. It's a LG 42LH2000 and I am so excited about this TV as the quality is great and it's 42"!! :D :p After a couple of hours going over the settings I think I've come to a final conclusion, as follows:

Aspect Ratio: 16:9
Picture Mode: Expert1
Backlight: 79
Contrast: 89
Brightness: 52
Sharpness (H & V): 53
Colour: 53
Tint: R1

Dynamic Contrast: Medium
Noise Reduction: Medium
Gamma: Medium
Real Cinema: On
Colour Gamut: Wide
Edge Enhancer: High
OPC: On
Colour Filter: Off
Colour Temperature: Medium

SRS TruSurround XT: On

When I use the standard Standard setting it seem to make the image ‘pop’ more—the sharpness is higher and also the colour—but it hurts my eyes and the colour is too bright so I think following the wizard is important.