Credits to wonkman from Hardocp forum.
Talking about real life experience, i compare my Dell 2405 FPW PVA with my HP LP2475W H-IPS lcd monitor.

1. Viewing angles are both acceptable to me.

2. They both have adjustability such as pivot, rotate, and height adjustment. This is a very handy feature usually found on premium lcds.

3. Connectivity is good. The Dell has DVI which is pretty standard and all your need for a pc monitor. The Hp has DVI, HDMI and Display Port, even though it has the addition of the later 2, these won't be used much anytime soon unless your using PS3 which you could utilize the HDMI.

4. For gaming and movies both are acceptable.

5. Color calibration my Dell got a deltaE of lower then 3. My Hp got a deltaE score of lower then 2 which is to be expected because it's a better panel at color  Both are true 8bit panels unlike TN which is 6bit using FRC.

6. Ironically my Dell has more usb ports and also has a card and flash reader on the side. Dell are famous for having these on their premium monitors. My HP has 2 USB ports on the left side facing me, and somemore below the monitor. The HP ports are fine and enough for me, but i miss the card/flash reader since it was easier to upload photos 
Over all both are good, but it just got better with the HP  which is the new king on the block no monitor can touch within the 24'' category and this price range 
My summary.

Tn = LCD monitor on the cheap for crappy panels for people that like crappy colors, and images and very low viewing angles that make me want to puke.

IPS = Very good on all quarters. Currently they have caught up with TN in regards to contrast ratio. Mine for example has 1000:1 contrast ratio which is comparable to many main stream tn panels. Input lag is also perceptively low. Which is why IPS is the king of lcd monitors currently although it also remains the most expensive.

PVA = A middle ground between price and performance for people looking for better then a TN, but not as expensive as an IPS. I am selling my Dell 2405 FPW pva monitor for between the price of a PVA and a TN panel which is a pretty good offer. So pm me soon before it gets sold off    Free calibration with ICC profile provided using my Eye One Display 2 colorimeter  as a bonus
Pricings
TN < My Dell 2405 FPW < New PVA monitor such as the Dell 2408 < IPS

Ayoh please lah i not trying to be rude to fellow forumer.

I just saying cannot just assume TN is just as good as IPS panels and PVA panels because it just isn't true. For example some of the prices offered to me for my PVA monitor is so ridiculously low below a tn panel, how can this be  My intent was to to help educate our fellow forumer mah. I have seen an experienced first hand now TN, PVA and IPS to help give a better summary of the pros and cons of the different lcd panel types.

I hope you guys/girls don't take offence cause no ill will was intended  Like our friend say, jangan kecoh hal hal sikit ni 

My brother has a few TN panels but he is a professional gamer and he isn't fussy person like i am So to him as long as game has no input lag and gives an ok image, then his just fine. So what i had meant was, if you aren't fussy and want a cheap monitor that is fast for gaming then yeah get TN, as it's on the cheap.

But for those who are like me who want the best more accurate colors, with the latest inputs such as hdmi/display port, 1900x1200 native resolution and pretty much overall picture quality with only a downside of slightly more input lag compared to TN ( which isn't by much in my honest opinion and i have not noticed any impact on gaming especially on my new HP LP2475W ), then PVA or IPS would be preferable if you don't mind spending more. You stare at the monitor the most so i would say investing some in a good monitor is worth it as a hobbyist 

Anyway i am glad i manage to persuade some of you to join my IPS club ^^ so just let them give you their feedback after having jumped over to IPS ok. Hopefully more will join us.
Onion-KiD - I noticed your using the Q6600 2.4ghz. Mine is the Dual Core E6600 2.4ghz by the way  very good price for performance at the time i bought it. Nephiliems look good but too poor to upgrade    My CPU is the limiting factor right now in my system with the index score of 5.3