What's more important to you?
You can raise the refresh rate...60 Hz is the default, and it's very noticable, you might want to set it to 75 or even 85, or whatever your monitor supports at your resolution (personally, anything higher than 60 makes my eyes feel a whole lot better).
doesn't matter any more, I am LCD for all of them now.
i have a dell 2405fpw that's now a bit old, but it's perfect, it looms larger than the PC it sits above, and it's just wide enough that you can see everything you're supposed to. for games, it's fine as well. any 24" LCD will do that now.
i bought the tiny dell stereo speakers for the 2405fpw, which are enough, and also have the logitech z5500d's which are a cheap 5.1 speaker kit for when i want to watch movies on the TV screen, that's now hooked up to a PS3. it has DTS, but at 1/10th volume, i don't notice it being especially better than dolby digital 5.1. the few times i hooked up 5.1 sound to my PC, the 90db startup sound and resulting 'ding' was intimidating. fun, but intimidating. reminded me of my first sound card, playing the broken glass sound on the first soundblaster 16, was smile inducing... and little else.
as for games, i got a little addled with audio directions. most recently, driving around in burnout paradise on the PS3, but likely not for my neighbours. mostly i just use the z5500's for mp3s in the background or for movies/tv.
