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I would shoot for at least 8-12ms for the refresh rate. If they have faster, great, but compare prices and refresh rates for each monitor. If the refresh rates get up to 16ms or higher, then I would forget the monitor and find another. However, refresh rates are a strange thing. Like benchmarked software, companies tend to use a variety of means to determine refresh rates and then list the best result (ignoring the poor results). Therefore it is possible for one monitor to have a poorer refresh rate (i.e. 12ms) and actually outperform one rated with a lower refresh rate.

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Yes, the monitor I mentioned (Samsung 226BW) is said to have a refresh rate of 2ms, but in reality it's more somewhere near 6ms or 7ms. Same story goes for contrast ratio. On the box it says 3000:1 (dynamic) contrast ratio which is insanely high, but in reality it's closer to 1000:1 contrast ratio.

So... don't believe the specs on the box, but check reviews out and look at the monitor in the store if you can ,

Cheers