I like the size and stunning look of the TV, it met what I was looking for in that regard and I purchased the Vizio Elevate 5.1.2 at the same time to get the full theatrical experience. But there are a few things that I don't like that I feel it missed the mark on so I could not give it 5 stars.
First let me say this, I have a Vizio TV in every room of the house except the primary. To be honest the best Vizio TV in my home is in my office and its 17yrs old (VR55M) and its still running great. So we are a Vizio family.
The things I don't like about the V4K86C-0804:
1. No Ethernet port (I have 1gig fiber internet). The WIFI is to flaky on this TV especially when watching movies it constantly drops out. Most of the times I just switch over to my Roku Stick which is connected to the same WIFI network and I have no issues. This TV should have come with an ethernet port for stability and reliability.
2. The mounting brackets make no sense, the mounting points are located near the bottom of the TV, most people mount the TV in the center of the wall. We have a new construction home so the builder put the power, coax and cable management in the center of the wall by the stud. So that you could mount your TV in the center of the room. So the TV sits to high on the wall but i was able to lower it down because of the mounting kit I had.
3. Deep Black on the display is not good, it looks pixelated most of the time.
4. No optical connection for Sound. The sound quality over time diminishes when watching movies. I purchased the TV and matching sound system together. The Vizio Elevate is connected to the TV using the eARC-HDMI cable provided. But many times the audio will get distorted and just cut out. So I have to stop my movie and start again for the audio to fix itself.
I have a gaming system but I am not a gamer, so I didn't connect my gaming console to the TV so I can't talk about the gaming feature.
I work long hours, so when I sit down to watch TV, I typically will watch a movie. I have fandango and have almost 600 movies in the cloud and its pretty annoying that I can't sit down and watch a movie all the way through without having issues with playback and audio. But yet in my office on my 17yr old 55 inch Vizio that has a Roku stick in it, streams all day with no problem.
I would say to improve the product:
1. Look at improving the WIFI connection and stability since you didn't provide an ethernet connection. Wired is always more stable than Wireless.
2. Better Color management of the deep blacks
3. Sound stability over eARC HDMI, since optical is not an option.
At least these 3 things can be improved with software updates.
Oh and as a side note, I have factory reset this TV multiple times, the issue resolves for a bit but comes back and that's really annoying.