+1 to that. Though not just any TN panel - some are outperformed by IPS. PLS looks like a really solid bet for best of both worlds - it's basically Samsung's attempt at IPS and seems to match the colour quality/accuracy of IPS while delivering excellent response. There are many Samsung models using PLS panels, plus one or two models from Asus, Viewsonic etc.
That discrepancy by the way is the difference between grey-to-grey (g2g) response, and TrTf (True rise / True fall). To switch the pixel from black to white and fully off again takes 14ms, while it only takes 5ms to go from grey back to grey. g2g response times are used most frequently because it allows manufacturers to present their products as being faster than they really are. Most would say TrTf times are most 'honest', but then manufacturers say that most pixel transitions aren't so extreme.
I'd disregard the manufacturer-quoted specs anyway - monitor specs are notoriously BS. Rely on them only if you can't find quality reviews. Sites like TFT Central actually measure responsiveness with high-speed photography and all kinds of expensive gadgets to give a more accurate measure of speed.
As for that specific monitor, my brother has one and colour quality looks really nice to me. I haven't seen it game though, so couldn't say about motion.
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