It'll work fine. The panel is TN, which the 'graphics pros' with their noses up in the air here will lambast - but as bang for the buck prospect the E248 is in all likelihood a good deal. For example, I don't have any major qualms about spending a good amount of time in front of its (also TN) smaller brother the E228WFP.
The 2407WFP offers better features, better connectivity and a better-quality panel... but if financial considerations override that, the E248 looks like a great choice for a lower-priced display.