The LP2480 is rather nice, but I could get five LP2475s for the same money....

The 2475 or similar would probably do me for the art work side, it's the lag thing that bothers me.
I can't really see why good quality LCDs must lag anyway. The problem seems to be that the screen updates every 16.6ms at 60 FPS and that the monitor can't process all the info from the video card in that time. At some point it is lagging so far behind the video card it skips a screen to catch up. What these monitors apparently need to reduce lag is more on board processing power, not a different screen technology.
Until recently NEC made a 24" LCD called the NEC 24WMGX3 for a similar price to the HP. It let you select a gaming mode which reduced the image processing the monitor did to give it much less lag but a slightly worse looking picture. Unfortunately this monitor cost too much to make and have now dropped it.
I'm not sure what to do now. An LCD monitor will give me 60 FPS instead of 85 FPS and will either lag by up to 3 frames causing possible gunnery issues in AH or will give me lousy colour reproduction for art work. Only plus points are three extra inches of screen width, a bit more desk space and lower power consumption. Overall though it seems like I'm paying out for a downgrade.