I've had the GV42 in my family room since last December. It gets a lot of use since it is our main family tv. My kids play their xbox and gamecube on it, we watch movies on it, I watch football on it on Sundays, etc.
So far it has been almost flawless. I say almost because occasionally when we turn it on we get sound but no picture, but when you turn it off and back on it works fine. This only happens infrequently, maybe 1 in 20 times and I think it may have something to do with the gamecube, but it doesn't bother me enough to do anything about it. Also, from what I have read, this is also a problem with other brands of LCDs. For the price I think it was a good deal and it has a pretty darn good picture.
I've read some posts on various forums where people are advising others to only buy mainstream brands (Pana, Samsung, Pio, Sharp, Sony) because of warranty claims and so on. To that I say, facts speak much louder than any free advise on the Internet. My own personal experience with warranty claims on mainstream brands from Toshiba, JVC, Viewsonic, GE and Panasonic are less than stellar, and even downright abysmal. I've actually sworn I will never buy another GE or Ford product ever again as long as I live because of my personal experience with their products, their warranties and their customer service.
After nearly a full year living with the Vizio, I'm satisfied with the product and what I paid.