Seen this front page news here on Toms, looks quite promising. Anyhow, close enough to those specs would be i would recommend.
Not sure how low your budget is, but the above, and read, LCD uses LED Edgelit/Backlit. The older LCD used CCFL tubes and are now replaced by LED technology either around the edges or back. Backlit will give better picture quality but can be more expensive and Edgelit is still widely used mainly to slim down the construction of the display making it appeal more attractive but isnt as good picture quality as Backlit.
LCD refers to the technology used to create the Panel of the monitor, LED way to light up that panel. They are not referring to a similar component of the monitor.
Your real question is LCD vs CCFL, which is the other dominant form of backlighting.
led refers to backlighting. honestly all of the marketing slogans for led and full-hd do nothing but confuse people. instead of having practical names they just come up with anything to make a sale quick.
in any case, ccfl and led monitors are both available cheap. leds are going to give you power savings but cheap models can have a blue-tint to them which you may be able to adjust out but just be aware of this.
there is no real difference other than that.
panel type is going to affect you more. perhaps read manofchalk (and my) guide. he has it posted in his sig.