It depends on what u want to use the lcd for. If it's for word processing, an 80ms response time is fine. Now if you want to watch movies, play games, etc. you want at least 30fps, though 60 would be better. In that case, to do 30fps, u'd need an lcd that has a response time of 33 1/3ms, and for 60 16 2/3ms response time. However, the issue is that response time is given for black to white whereas transitions to gray take more time b/c lesser power is used, so it takes longer to respond. On a 25ms panel, response times to shift to a gray can be over 50ms, which is bad. w/ 16ms it's better. In conclusion, if u want to use lcd for multimedia, get a 16ms response time one.
"If everything seems under control, you're just not going fast enough."
- Mario Andretti