Bought this TV (not from Play) for slightly more at the time, but still under £400, a few months back.
If you don't want a huge HDTV, or you're looking for a bedroom HDTV, with good contrast and overall picture quality, then this set is ideal. For the price, it's much better than similar products. The contrast is good and the backlight adjusts depending on content, which helps darker colours appear darker etc.
Plenty of ports on the back. Standard definition TV is very good, although sports seem to suffer a lot (to be expected somewhat). Although, this can be dependent on freeview signal. Obvisouly having HD content (such as Sky HD or Virgin) will solve this.
HD picture is brilliant. I use my PS3 to play blu-ray movies, and they are stunning. Unless you sit ridiculously close, then you won't tell the difference between 720p and 1080p.
The actual TV could look a bit nicer, but it's hardly an eyesore. Overall, brilliant picture quality for a great price. Highly recommended.