As someone else mentioned earlier, this particular TV is actually a 60 Hz panel, with some proprietary technology (black frame insertion or fast blinking backlight) in order to "emulate" 120 Hz.
Google search "LG 120Hz" and you'll be able to find more info about it. Basically, at least for the 2012 model year (and maybe even latter half 2011), LG has been falsifying the refresh rates of their TVs. A well-known audio/video review site pointed it out when they got a review unit of the LM6700. They did scientific testing of the panel and measured it out to be 60 Hz (since there were no TruMotion settings available to adjust and it raised a red flag).
When they asked LG about the settings, LG responded that the 120 Hz TruMotion is just always "on", and needs no other settings. This goes against how every other TV above 60 Hz actually works. When they did their testing and pointed out that the panel was truly 60 Hz, LG responded with a firmware update to that particular model that enabled DeBlur and DeJudder settings, however people found adjusting these gave little to no benefit, as the panel used to build the TV was still a 60 Hz panel. But it's not just LG that does this, basically every manufacturer has fibbed a bit about their refresh rates.
A good rule of thumb is to take the advertised refresh rate, and halve it. LG's 240 Hz TVs, for instance, are actual 120 Hz panels but with backlight and black frame tricks to "emulate" 240 Hz. I should know, I have an LM7600 (one model up from the 6700 that they tested) that's advertised as 240, but uses a 120 Hz panel. This shouldn't be used as a be all, end all guide though. Always research a particular model TV to be sure of what you're getting.
All of that out of the way, as long as you aren't bothered by it not being a 120 Hz TV, I'm sure it gives a good picture. I actually really love my LM7600, one of the best looking TVs I've ever seen.
Just be wary of specs, and research to make sure you're good with what you're getting!
EDIT: I can say for sure that in terms of the 2012 LGs, ANY LG model that isn't the LM7600 or higher uses a 60 Hz panel. So that is, the LM6700 and below all have it. This particular model is the mid-range line, and thus uses the 60 Hz panel.