Those comparing LED ACD to inferior, cheaper Dell/HP monitors: You might want to double check the specs.
First, those comparing it to cheap TN based panels: Forget it. This monitor is leagues above those. For an immediate comparison, go to an Apple Store and look at this LED monitor, then turn around and look at a 22" iMac screen (TN based). The difference in image quality is startling.
PVA panels, that's a much closer comparison. However, PVA panels (the Dell 24" is infamous for this) typically suffer from mild output lag, which makes them less desirable for gaming. An HP monitor I tried (LP2275W) had so much output lag that I noticed it even on basic mouse movements. I tested the Apple LED and noticed no output lag - in Quake 3, the ultimate litmus test.
Also, 14 ms response is fairly typical for an IPS panel. Comparing response times between panel types is tricky and not as clear-cut as you would think. That said, I noticed no ghosting or blurring in my gaming tests on the Apple LED.
Try to find another output lag free IPS monitor with LED backlighting made with aluminum & glass, integrated camera, mic and speakers, MagSafe charger, three USB ports and Mini DisplayPort for $900.
Ha!