Pros Excellent color and sharpness
Cons horrible ghosting
Summary If you do a search for 2407WFP-HC and ghosting you'll find many examples of how bad ghosting is on this monitor, including on youtube. Apparently Dell cranked the overdrive to far to get a decent response time and if you play any game where you control the camera angle you will notice intense ghosting. You also see it as a "trail" following your mouse cursor when you move over a dark background or scroll text. The 2408WFP is supposed to fix this issue, so go with that model if ghosting bothers you (it would for gaming). Other than that it's a great monitor for static images.
For what should be a high end monitor, I'm going to have to give this a 4 since it's really inexcusable these days for an LCD to have ghosting this bad.
Pros Sold my WFP as soon as my HC arrived
Cons Shaky stand
Summary Greatest monitor and Hi Def 1080P TV for the price!!!!
"Solid choice"on by dhuhtala
Pros Bright, well designed, good button placement, nice color
Cons Price, no HDMI
Summary I also have a BenQ FP241W and I'd say the Dell is very comparable. I don't think there's much of a difference in quality between the two. The BenQ is cheaper and has HDMI, but the button placement is terrible (on the right side). The Dell has no HDMI (but could use the DVI connection) and has a card reader slot, so I'd have to say it's probably a tie. It's nice to find a couple of good monitors in the slew of far inferior TN panels that are starting to flood the 24" market.