I know what an LED and an OLED are, but is this any more efficient than a regular LCD TV, for is it the Mercury that makes this awesome... Yay for acronyms!

@nameSpencer: It'll have a brighter screen and less power consumption with the LED backlighting, thats all the LED part it for... I think....

that looks pretty good even on a picture

@PJK:
It'll also give more accurate colors, higher contrast ratio(both darker blacks and brighter whites), and more uniform light distribution. Of course, like with any technology, this is assumed they implemented it correctly.

I'm personally waiting for the LED backlit and 120hz refresh rate LCD's to come out before looking at a new TV.

I love this Korean model! A korean friend told me she is a famous actress in South Korea. Hot hot hot

The equivalent US model would be the Samsung LNT-5281. This is available for sale now and retails for $4,999. It has all of the same features listed above, including USB, ACTIVE LED backlighting (more on this in a minute), and HDMI 1.3. The only feature left out would be the streaming stock quotes.

Active LED backlighting means that there is a grid of LEDs illuminating the LCD panel, and that the screen will selectively turn off portions of the screen's backlighting to dramatically reduce the black level of the picture, but maintaining high brightness in other parts of the picture where it is needed.

I have seen the 46" version of this panel, and I honestly think that it is the first LCD that can give Plasma TVs a run for their money!

The current LED model (at least the one currently available in the US) is only 60 Hz. They do offer a 120 Hz with traditional backlighting, but they you lose the super high contrast ratio that the LED's provide...

I've seen the LNT-5281 that JNEMESH mentioned, and while the black levels are improved over any other LCD on the market, a comparable plasma still wins hands down.
While the Active-LED backlighting is able to turn off the backlight where needed, that still doesn't come close to being able to control brightness at the pixel level, which every plasma ever made is able to do.
Also, there is a very distracting "halo effect" when you have a bright image on an otherwise black screen.

I really don't understand the push to improve LCD when plasma is just a better technology hands down. All of the recent improvements in LCD (LED backlighting, 120Hz, etc) are actually just band-aids to cover the problems with the technology.

Put this Samsung up against the Pioneer PDP-5010FD (same MSRP as the Samsung) and the choice is clear. Heck, even the 720p Pioneer PDP-5080HD beats this LCD, and at an MSRP that is $1500 less.

LCD should have stuck to the 15"-37" range (where plasma isn't a viable option) and left the 42"+ sizes to plasma. If they had, plasma prices would likely be even lower today (more units sold) and there would be far less consumer confusion about which is "better."

And why would I get this over one of the new Panny plasma 1080p displays?

This comment is in reference to the "Plasma is better hands down" comment. I absolutely disagree. Plasma still does have a better contrast ratio (for now), but the Samsung LED LCD is brighter, cleaner, sharper, and gives you just as rich or richer colors than Pioneers' Plasmas. I've seen the new Kuro Pioneer Plasmas and they do have a great picture, but honestly, I was a little disappointed. When I first heard about Pioneer re-engineering their plasmas I got really excited, and for a while I was saying to my self " This is my TV!". But now that I've seen them, I'm really considering getting one of Samsungs new LED LCD TVs. And to address another case in point, even though LCD cannot adjust the brightness at the pixel level like plasma does, LCD will still look brighter and more uniform than plasma because of the LEDs... you can't see the individual pixels in plasma at a practical viewing distance so that so called "advantage" doesn't make a difference anyway. See for your self, and if you can, check out the TVs side by side, and I think you'll agree, plasma is not better than the Samsung LED LCD TVs hands down. And one last thing... the LCD LED TVs are much more efficient, don't give off heat, and are completely silent.