Be careful. I bought my first LCD recently and spent a good deal of time researching. Some of the practical things that I learned that I would share with others include:
response time- my understanding is that there are no true 8bit panels that have a response time faster than 16ms. All of the panels with 12 and 8ms response time panels are 6bit panels (in order to get increased response times, sacrifices elsewhere had to be made). 6bit panels are not capable of displaying as many true colors as an 8bit panel. As a result, some claim that colors on 6bit panels are not as accurate or vibrant, etc.
refresh rates- generally fixed or very limited and not really important to LCD's because the image is being displayed with a very different technology than CRT's
native resolutions and scaling- LCD's are intended to be displayed at their native resolutions, and while they are capable of displaying at other resolutions, in doing so they are scaling to that resolution and image quality is impacted. Many have reported not noticing much in games, but in word processing and general applications, images can lookk fuzzy and lack sharpness when scaling to a non-native resolution. The other thing to keep in mind is that the larger the LCD screen, the higher the resolution. A 19" LCD's native resolution is generally 1280x1024. While I considered a 20" I knew my eyes would not be able to deal with the tiny text and icons that result from displaying in the native 1600x1200 resolution. There are ways to compensate for this, large fonts, etc., but I didn't see the point, so I stuck with a 19" for this reason alone.
contrast and brightness levels- another selling point. Some are put off by super high brightness levels and other love them. Likewiese with contrast allowing for better display of color.
Some people will notice these types of issues more than others, but for me I chose to trade off the 8bit panel for one with a faster response time, chose a 19" over 20" so that I knew I would be able to display my desktop and normal windows applications at the monitor's native resolution and still be kind to my eyes, and also went with the 19" because I knew that I would be able to run games at the monitor's default resolution as well.
So far I am happy with my decisions. I have not noticed any significant lack of color or vibrance as compared to my CRT; I have experienced no ghosting; I enjoy the higher brightness levels except for the backlight bleed at the bottom of my LCD that is somewhat distracting. Personally, I have noticed a difference in shaprness and clarity when running games at resolutions other than my native resolution (it's not slap in the face noticeable, but it is there) so I am pleased with my choice to stick with a 19" as opposed to a 20" where I would not have had the muscle needed in my graphics card to run most games at the native 1600x1200 resolution. These issues will be different for everyone, but I just thought I would share some of the things I came across.
[EDIT]
By the way Jeff V. Here is a review of the Samsung 8ms panel.
Here I bought a Hyundai 8ms panel that uses the same Samsung panel (but also has a DVI input)