So I returned to Costco yesterday and I replaced my defective LG 50" TV with a
JVC SP55M-C 55" television. Refunding the LG was painless at Costco, and the JVC was $679 after instant rebate. I've had the TV less than
an hour a day, but I'll give my initial assessment here:
The TV dimensions are a perfect fit for its location. Although it's 1 inch wider than I would have preferred (48.9" width), it's not noticeable at all and looks excellent. It's a much better fit than the LG 50", which was 44.4" width.
The setup was very easy and intuitive. After the setup I only tweaked a couple things. The picture is fantastic (I think better than the LG), and it doesn't have a glossy panel. The LG's glossy panel was closer to a black mirror.
The local dimming gives incredibly deep blacks, slightly better than the LG. It does not have any hint at all of edge bleeding (flash lighting).
The sound is acceptable, but the LG had it slightly beat in this area. At the end of the day, no big deal.
JVC's traditional remote control (with a QWERTY keyboard on its back) is FAR, FAR better than LG's Magic Remote. LG can keep the weird, pickle shaped remote that acts like an air mouse. It would have been nice if JVC's remote was back lit, but oh well. We're getting along with it just fine.
The TV only has 3 apps that I can find: VUDU, Netflix and Pandora. Since we only use Netflix and Pandora, I couldn't be happier. Oh, and the remote has a shortcut to Netflix.

The LG was loaded with all sorts of crap apps that we would never use. The LG also had internet access and too much other garbage. Uh, I don't want to surf the net or check my Facebook status on the TV.
The JVC does not have 3D (although it advertises "3D" sound). We don't want 3D television anyway, so no big loss.
Short story, we're happy. We'll see how it behaves over time.