This 27" Hanns-G a good LED

Druid

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So I've been considering upgrading my standard 24" LCD monitor to an LED for a little while now, and now that newegg is running this 72 hour deal, I might jump on this. Some more size would also be nice.

Newegg.com - Hanns-G HL272HPB Black 27" 2ms HDMI Widescreen LED Monitor 300 cd/m2 Active Contrast 30,000,000:1 (1000:1) Built-in Speakers

I don't know how to judge an LED. Is this a good contrast ratio? Looks like a good price for a 27" LED, but I really wouldn't know as I haven't been looking at monitors for long.
 
The one I have isn't an LED but when I first got it it looked good. 3 years later the color looks washed out, a lot of times it won't come out of sleep mode unless I turn the power button off and back on and sometimes when it does come out of sleep mode the screen is scrambled until I turn it off and back on to get a normal display back. Just lately it's been flickering now, I told my wife as she was looking at it that it's time to get a new one.
I bought a cheap monitor so what I got was a cheap monitor
 
Newegg also has a sale on this one:

Newegg.com - LG E2442V-BN Black 24" 5ms HDMI Widescreen LED-Backlit LCD Monitor 250 cd/m2 DFC 5M:1

Is it a good one? I don't have to buy now. I already have an ASUS that is the same size, only it isn't LED. Is $170 a deal I should jump on though?

I read part of the article linked two by Joe and it made it seem like you can't tell much of a difference with the contrast ratio. Is this true?

Edit: Or this one: http://www.newegg.com/Product/Product.aspx?Item=N82E16824009302

Both say backlit.
 
Well I missed the LG deal, so I think I may get the Acer. Might as well get a size upgrade too.
 
i have a hanns-g 19" and when it broke i called the support # and to my surprise a got a person on the second ring and within 3 weeks i had a new monitor ( i my have been the reason it broke)
 
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