Going by this thread the LH30 and KVWs tests, it's supposed to be the best or at least one of the best TVs for input lag. It also seems to have a fine picture with its S-IPS panel. LG is also one of the few TV brands that make their own panels. The only problem I've heard with the S-IPS panels is that their black level isn't as good as say some Samsungs but their colours are better. Also there may be an audio synch problem with some LG TVs but for me this is minor.
As you can probably guess I own 2 LG TVs, one a LG37 LH40 (this has the 120hz but it has worse lag for gaming than the LH30 as the less processing the better) and am happy with both.
http://www.avsforum.com/avs-vb/showt...hlight=lg+lh30
Here's another review
http://reviews.cnet.com/flat-panel-t...-33561684.html
and picture settings suggestion
http://forums.cnet.com/5208-19410_10...hreadID=340770