The LG 32LN530B has poor blacks and some motion blur. On the plus side, it has a good average viewing angle and low input lag. Its 720p resolution shouldn't bother you unless you sit very close to it.
Like most LG TVs, this LG 32LN530B has grayish blacks if you have the lights off. In a bright room, though, this TV is good, especially considering the price. Do not worry about its lower 720p resolution if you are sitting at a normal viewing distance.
When watching a dark scene, the 32LN530B's blacks appear gray.
While the screen's reflections will cause trouble in a room full of windows, they are manageable under controlled lightning.
The screen's reflections are less of a bother when watching brighter videos.
The 32LN530B has a good viewing angle. There is no discoloration when looking at it from the sides, but some contrast loss (50% contrast @ 31°).
With fast-moving objects, there is a slightly visible blur (a little bit more than the average LED). Fortunately, it does support 24p playback for movies.
The input lag of the 32LN530B is very low. It is a good gaming TV.