It's not the rainbow effect; I know what that looks like. It really looks just like chromatic aberations, as from a poorply designed lens system. I ended up getting a Vizio RP56 (with a 30 day return policy) and so far it's quite nice. Not too huge, the pixels are still small, and the image quality is nice.

It has some CA, but it seems better than the Samsung sets in that regard. Interesting, CA isn't something that was ever a factor with 3 color systems since each lens set handled a single color.