I've got an NEC LCD1760v, which was one of the only LCDs with a 16ms response time when I bought it. If you're looking for a monitor that will handle all kinds of multimedia such as fast-paced games or movies, getting a monitor with a low response time (<20ms) will ensure that you get minimal "ghosting" or blurring of the image. The amount of ghosting on my NEC is very minimal and I'd reccommend it to any gamer looking for a gaming LCD.
However, there are lots of other LCDs with 16ms response times on the market now, so your best bet is probably to shop around. What I did was go into popular stores like Future Shop and Best Buy to actually look at the monitors and compare image quality, then I ordered the monitor from a site on the internet since I was able to get a much better price online.