We disabled the Energy Saving option on our LG LB5600 LED TV so that we could control the luminosity of the screen ourselves. Otherwise, the TV adjusts it based on readings by its ambient light sensor. We used the Expert1 mode to calibrate the TV. We had to bring down the contrast option a little bit to flatten the gamma curve.
For cable content, enable both noise reduction features. Real Cinema should be turned on when watching 24p movies like Blu-rays.
Enable the Edge Enhancer feature if you are watching content below 1080p. It improves the upscaling a little bit.
The grayscale calibration was a bit off by default, and even after spending quite some time with it, it wasn't perfect. The following settings are panel-dependent, so you shouldn't copy them. Just set the color temperature to Warm 2.