I wanted to say thanks for pointing that out about display processing. You were absolutely correct. My cheapie display uses cheap processing for its smart TV functions.
However, there is a huge silver lining to that cloud in that you can bypass the smart tv options altogether with game mode on my Hisense. Since I drive the display using HDMI from PC, all bits pass straight through in 444, so there is no loss. And while I cannot use TV smart functions, its a small loss considering that I can just use my PC to do any of the smart functions available in TV and oh so many, many more.
Now that I fixed this, the display is as vibrant and vivid as any I have ever seen. As I think that the displays themselves come from a given manufacturer that supplies all of the TV makers, I think that were you to purchase Samsung 49.5 4k, you would get the same as what I have here. And were you to go 1:1 with Samsung, you would have identical image quality as what I have here.
Moral of the story, donāt hesitate! Buy now, and cheap! Go ahead, the TV is OK, for Hisense anyhow. And the way you can tell if it will be OK or not is if there is a 1 second or so blanking of the screen when switching from another mode to game mode, or from game mode to another. This tells you that the internal FPGA or ASIC is rerouting to bypass processing path, or vice versa.
$330+tax= 50" awesomeness!! Thanks again, because that change made all the difference in my picture quality!