The 40L7355 supports a 2160p video mode which is better than most TVs of this age and type. Most TVs of this type and age support a 1080p video mode. This Toshiba TV also support 1080i, 480i, 480p, 576i, 576p and 720i and 720p video modes.
This TV's video mode (2160p) is in fact the best supported video mode across all comparable spec TVs that have been on the market for a similar time to the 40L7355.
A 480p video mode is the worst supported video mode amongst similar types of TV.