I've recently Installed Feisty Fawn (The latest Ubuntu release) on my LG LM50a Laptop, and I was surprised how the installation worked quite flawlessly. Feisty seemed to have prefect support for my laptop, almost right after the install process.

I haven't noticed any significant problems with battery life, even though I have installed Beryl on it, which is quite resource-consuming.

however, I have experienced problems with the computers going into suspension when I close it. Sometimes the computer didn't go into suspension, so now I just manual put the computer into suspension (using the ubuntu interface) instead of just closing it.