Hi,

I've been researching what settings to use on my LG tv and it all comes down to a a little personal preference and some recommended settings.

For the things like dynamic contrast, trumotion, noise reduction etc, you should turn them all off. I did, however leave on real cinema.
And as for the personal settings like contrast, brightness, etc i used the AVSHD calibration disk from avsforums.

Download and burn a copy to disk and then use that to calibrate your TV. It also comes with a video on how to use it.

After calibration, you may find the picture dull and less sharp. This is normal. Leave for a while and you will get used to it. You can always go back and tune to your preference afterwards.

Hope this helps.