As Mtry mentioned, calibration disk might be a good investment (some BlockBuster also rent it).

Sometimes VSM make a picture crisper by enhancing the edge of objects on screen. It always work best when source is of high quality. If VSM is defeat-able on your TV, try it and see if you like the enchantment. Some TVs do a better job of utilizing VSM than others.

I don't think that feature have anything to do with life span of your set