It looks good and does what it's supposed to. The panel is maybe the 2nd best ultrawide panel in the market trailing just behind the X34 depending on how much you like IPS over AMVA+. Personally, I can't tell the difference without having to actually search for it. I presume the color banding video that's been making the rounds is the fault of the source material.
http://www.lagom.nl/lcd-test/gradient.php
This website shows the gradient perfectly and I can't tell the difference in my 60gb uncompressed movies either.
It is also possible that I got lucky with my monitor but I don't believe HP would allow a monitor that looks like that video to be released.