I just bought the LG204WT yesterday from Circuit City. So far I'm happy with it. The monitor tries to self adjust whenever you launch a new game and usually does not get it right. This is rather annoying however it only does it once per game as far as I know. If any one know how to turn this off drop me a line. In addition, I have not been able to prevent it from streching 4:3 games to fit 16:9 screens. I'm using a 9700pro with latest ATI driver; if some one knows how to use the ATI driver to force 1:1 screen ratio let me know. The 2000:1 contrast is dynamic contrast provided by LG/Phillip's DFC software (it's inside the monitor you don't have to install it). The actual contrast ratio is 800:1 which is quite nice/standard. The only monitor that I'm aware of that has higher true contrast ratio is the Samsung 215W which boast 1000:1 ratio (the 205BW has 600:1). This monitor is rated at 5ms and I have not seen any ghosting playing Warcraft 3 and FIFA 06. However, I don't think these games are adequate to force the ghosting issue. I'll try a FSP later and post the results. The control buttons ae placed in the bottom right corner on the back side of the monitor which is a pain for me because I don't know which one I'm pressing. There were some report of backlight bleeding at the edges but I have yet to see that effect. You can't adjust the height nor the swivel of the stand but you can tilt it up and down. The stand is actually one solid plastic disk so eventhough it look flimsy, you can't knock it over that easily.
Side note, I got this model for 326 USD at Circuit City after a $40 coupon (Google it and you can print it out, it works). Newegg, ZZF has other models, the L203WT and L203WTX on sale for the same price. As far as I know, the L203 doesn't have HDCR and this one does. As I mentioned before, the Samsung 215W is better handsdown but it is selling for 459-499 USD. That's $150 more for 1 inch and a feature that white-page can solve.
Hopes that help some people make up their mind.