This television has been discontinued.
It was replaced by the LG LB5800
The LG LN5300 LED TV has picture quality similar to the LN5400. It has a good viewing angle, but its blacks are not very good. It also has some slight motion blur. Its strongest point is its very low input lag.
I just bought a 42" LG ln5300 from Target for $379 and a $50 gift card. I will mostly use my TV for PS3, PS4, Netflix, and maybe Basketball/Football. I read everywhere that the Sony w600b is the best TV for games in this price range. I would like to stay $500 and under. Is this the best, or are there other recommendations could you make?
Yes, the Sony W600B is indeed the best TV in this price range.