How to judge a LCD? by response time? etc?

I own a DELL UltraSharp 2005FPW 20.1-inch Wide

* Display Size: 20.1 inches

* Display: Flat panel display

* Display Technology: LCD

* Display Resolution Maximum: 1680 x 1050

* Image Brightness: 300 cd/m2

* Image Contrast Ratio: 600:1

* Hardware Platform: PC

* Response Time: 12 Milliseconds

* video_input_digital_standard: Digital Visual Interface (DVI)

* Audio Output Type: None

* Depth: 9 inches

* Width: 18.6 inches

* Height: 18 inches

* Weight: 17.6 pounds

i bought it in the march 2005 for $500(can't complain). First how to i judge a lcd monitor? My first glance of course the size of the lcd, then response time. Although my LCD 's Response Time: 12 Milliseconds, but it still display quality that way better than most demonstrate i seen in most staples/office max/ bestbuy/ etc.

Check out tom's hardware. They do really in depth lcd reviews, and will larn you a bit about what to look for. Response time can be heavily skewed by the maker depending on how the actually rate it, some are more "honest" than others. The dell's are pretty nice, but seem pricey to me.