I had an update, but it didn't fix the black level for me. The black bars above and below the Zune previews are black, but the black level in the movies is still grey. It seems the whole color range is squashed. According to the waveform tool on my display the range of the movie content still is 30-220 instead of 16-235. No full black and no full white.
I have it set to hdmi color space YCbCr709, dashboard and games look great, video still looks bad.







