In the grand space of marketing misrepresentation in TV sales, I'm not particularly bothered by the LED/CCFL confusion. I'm far more bothered by the claimed brightness rations (a million to one!) which rely on artificially dimming the backlight during dark scenes. My Sony XBR Bravia pricey set does this, and there's no way to disable it. (And believe me, I've tried.) I'm also bothered by the "demo mode" where TVs in stores are generally set up with absolutely horrid color balance, brightness, and so forth, because... it sells! Never mind that you can't make an effective comparison of things that might actually matter, like how well a TV handles black levels, unless the TVs you're looking at were both calibrated at the same time by somebody who knew at least a little bit about what they're doing.

If I were king for a day, I'd ban the contrast and brightness and so forth settings and require consumer TVs to implement sRGB correctly and call it a day.