Far, far better
As far as pricing, I understand that there is a cost factor when comparing the smaller sizes, but at the time that I got mine, it was actually much less expensive than the comparable Apple monitor.
As far as quality, the Formac is the best in the industry. I have worked with several different displays - from Apple, Sony, Philips, Viewsonic, NEC, etc. I am a professonial software developer and need a clear, bright, sharp, and color acurate display. Nothing can touch the Formac. I'm not sure who actually manufactures the LCD panel itself, but I have not seen anything come close to the quality of the Formac.
Here's a web address to some more recent user reviews (well, 2 anyway...)
http://www.pricegrabber.com/rating_getprodrev.php/masterid=548461/id_type=masterid
Apple 17" Studio Display current list is $699.
The 17" Formac is listed at $649. So for $20 more than the price that you found ($630), no-tax (if you buy over the net), you'll get something that you will enjoy for a very long time. And it complements all Apple systems very well.
There is a Formac 2010 (20") on eBay, but it is at $500 and there are over 6 days left...
I'm kinda picky and wouldn't make such a substantial investment in something that is used.
Formac displays are one of those hidden Gems -- and just so you know... no, I don't work for Formac.
Good luck and best wishes,
Quark