It's been few months now since I have purchased the P70 version here are some thoughts.
First this review was edited 1/13/2015 as new firmware for this TV was just uploaded by Vizio. (Update happens automatically when you power it on)
It is a great TV for the money. If you are a gamer, this TV has some of the fastest response times for fast action games. Input-Lag is 19ms with Gaming Mode ON
There is nothing on the market currently that can compete value wise. It is not as good as OLED TV but it comes close for thousands of dollars less. If you are in the market for a new TV; and you want to go BIGer....and can't justify an OLED TV, this is it.
I will skip all the likes and only mention things I didn't appreciate so far.
1. (Edit) There were a lot of complaints regarding this TV not being calibrated properly in the factory, requiring a need for a professional calibration in order to maximize the power of this TV. New Firmware uploaded by Vizio yesterday seems to have corrected most of the issues that I can see so far. I will test it with various content and update this review again, but so far so good. Amazon app now has 4k content you can view, although on a quick inspection Amazon 4k doesn't have the same quality of streaming as Netflix 4k.
2. Remote is almost great and that's why it's a bit frustrating. Why does only one side (keyboard side) light up? Am I missing something? I use my phone flashlight to operate the TV remote at times. Not the most ideal design choice.
3. Screen is semi-reflective. I watch mostly in the evenings so it doesn't bother me but If you planning on watching TV during the day in a bright room - get some shades.
Final thought; earlier I have said that this is a great TV for someone wanting to go bigger without paying the premium price for an OLED TV. By bigger I mean MINIMUM 60" otherwise most of the 4k benefits are hard to distinguish. Save that money and buy yourself a larger good 1080p instead. I did multiple side by side comparisons and 60" is where I and others started to see the benefits of 4k at about 8ft away seating distance. Also that was under perfect conditions with the actual 4k content. Don't be fooled by slow moving demos where nature or carefully staged imagery is shown. Real test is fast moving action of movies presented in actual 4k. Even 4k shows streamed from Netflix like `Black List' look only great when character is seating, walking etc..the moment there are significant spikes in movement 4k benefits disappear and you start to notice jaggedness around objects that are in motion. To be fair this is an issue with almost all TVs not just Vizio P series.
Tip: I have purchased my P70 on Visa. Visa has a purchase protection built in (other cards might too), which extends your warranty for 1 additional year. Also if the TV goes down in price during the first 3 months they will reimburse the difference. (Which is what they did as P70 went on sale during black Friday to $2100. In other words I got $400 back.)
Tip2: Don't worry about few negative reviews about this TV 90% of the negative reviews refer to a tv being delivered damaged in some way. Yes there seems to be a quality control issue that you either going to get a perfect TV or you might have to go through a pain of return and re-ordering another one. (Never the less in my opinion it is still worth it, considering what you get for your money once you get a perfectly working set)
Not sure if this will still apply to you after the Vizio firmware update but here is a custom calibration I have used for my P70:
---Basic Picture settings---
Picture Mode: Calibrated
Auto Brightness Control: On (Medium)
Backlight: --
Brightness: 52
Contrast: 52
Color: 40
Tint: 5
Sharpness: 0
---Advanced Picture---
Color temperature: Computer (I know this is not a mistake)
Black Detail: Low
Active LED Zones: On
Smooth Motion Effect: Off
Clear Action: Off
Reduce Signal Noise: On
Reduce Block Noise: On
Game Low Latency: Off (unless for gaming)
Film Mode: Auto
Gamma: 2.4
---Color Tuner---
[Hue, Saturation, Brightness]
Red: -5, -16, -3
Green: 3, -34, 18
Blue: -19, 12, -3
Cyan: 0, -18, 5
Magenta: 0, 10, -25
Yellow: -1, -27, 3
Red offset: 3
Red gain: 0
Green offset: -1
Green Gain: -5
Blue offset: -1
Blue gain: -3
11-point white balance:
[Red, Green, Blue]
5%: -14, -10, -21
10%: -27, -20, -20
20%: -5, 1, 0
30%: 1, 5, -2
40%: 0, 4, -3
50%: -5, 0, -6
60%: 0, 4, -5
70%: -1, 2, -5
80%: 5, 8, 0
90%: 2, 7, -3
100%: 6, -2, -2
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