I would regard the fact you can visibly see actual light under the edge of the screen as not being acceptable, and am very surprised it's not affecting the display. I would be requesting a replacement. You shouldn't see any actual visible light at all under the edge, minor light bleed is when it changes the black or a uniform dark grey around the edge into a slightly lighter colour, as your'll never get a true black of course.. at least, not with backlit LCD panels.
Minor light bleed to me is when a certain spot round the edge on a black screen in a dark room is making one or a couple of tiny area's along the sides appear slightly lighter in that area. As long as it's just a tiny amount thats not easily seen, it wouldn't concern me too much as it's very unlikely to ever be visible in normal use. Anything more however, and it should be replaced, and like other's have stated, bad pixels are definately a big no,no for me too, and seeing actual light shining as in the picture under one of the edges would also be a big no no.