My mom recently got one of these. Might not be the same model, but a 42" Hisense LED LCD 1080p... so probably is.
The picture is generally good. In fact, it really shows how much her subscription to DISH TV compresses their signals, frequently even on "HD" channels. The sound is mediocre at best, but that's generally the case with most very thin TVs because the speakers are necessarily very thin.
The only thing that drove me nuts when I was using it was the fairly long time it takes to turn on... perhaps 10 seconds from the time you hit the button on the remote until the screen shows anything. (The light in the corner of the set comes on right away though.) Until you get used to this, your reaction is to hit the remote's Power button, then hit it again, then check your aim and try again, then wonder if the remote battery is dead just about the time the set turns on.
Overall, at this price I'd recommend if you can live with the warranty or extend it with a square trade plan.