IBM LCD quality?

I am able to get this monitor for $319 minus a $250 gift certificate so it would only cost me $70 to buy but is this LCD good enough? Also is a CRT superior to this?

I am currently a student with one more year left of Computer Graphics & New Media. So I will be using this monitor for print/web work using programs such as Flash, Dreamweaver, InDesign, Photoshop and Illustrator.

I have like zero experience with LCD monitors so I am not sure if this will be good enough for me. I noticed that the Dell LCDs have a contrast ratio of 800:1 but I dont know how big of a difference that is.

So any help would be great. This deal ends this thursday the 16th so I need some help rather soon. Thanks.

Link to the LCD

Specs:
IBM 19'' Thinkvision L190 Flat Panel Monitor
Our unique ThinkVantage design offers:
Ultra thin bezel, only 15-millimeters, minimizes distances between screen images in multiple-monitor environments
Features fast, 12-millisecond pixel response-time (typical) allowing for smooth text scrolling and video streaming
ThinkVantage design enhances usability and complements the system design:
Tilt stand 4 degrees forward/40 degrees backward for optimal viewing
On-Screen-Display (OSD) allows user to quickly and easily perform monitor adjustments
Convenient direct access buttons for automatic image setup and brightness

Additional features:
Viewable image size: 19.0 in (482 mm)
Brightness: 250 cd/m2 (typical)
Contrast ratio: 500:1 (typical)
Viewing angles (vertical/horizontal): 140/140°
Displays native resolution of 1280 x 1024 (automatically scales lower resolution to fill the screen)
Tilt stand
Carrying handle
Direct access for automatic image setup and brightness
Analog system attachment
Internal power
100 mm Video Electronic Standards Association (VESA) standard for mounting

 

Would I need to buy something extra for this to work with my PM G5?

What makes it not show good graphics? I dont get it.

 

I had a 17''CRT which I loved but wanted more screen space so I bought a 21" CRT used for $50 but I find it straining on my eyes. The CRT is old but was used very little and cost like $500 brand new but I am not pleased with it. I dont know what it is. Some of the settings were way off and I have played with some and got better results. Would there be a way to make the monitor go back to its default factory settings?