RubberSalad :
Hmmm, I'm not a 100% sure but I'm pretty sure maintaining 1440p/60fps is much easier than 1080p/120fps, performance wise. I'm still unsure because i have yet to find a 1440p benchmark with my card. I've only found one but the guy had an APU and that's a bit of a bottleneck. Wont 1080p in a 27" monitor would look too "stretched"? But it seems my best bet is to go with a regular IPS-1080p monitor. Dunno if i will see a big improvement from my current resolution.
It's really not much easier. 1080p at 120fps is 1,920 x 1,080 x 120, or 2,073,600 (number of pixels in a 1080p frame) x 120 (number of frames per second) which equals 248,832,000 pixels per second.
1440p at 60fps is 2,560 x 1,440 x 60, or 3,686,400 (number of pixels in a 1440p frame) x 60 (number of frames per second) which equals 221,184,000 pixels per second.
That's really not that big of a difference - it's only 1/9th harder (11%) to keep a game at 120fps at 1080p than it is to run it at 60fps but 1440p.
Now, as for 1080p in a 27" monitor, it won't look "stretched," per say, but the pixels will be a bit bigger, and so you might want to sit a little further away. (I sometimes run my 1440p, 27" monitor at 1080p when it's hooked to my media PC, and there isn't that big of a difference in quality between it and a native 1080p monitor when the larger size is adjusted for.)
I strongly, strongly suggest you avoid a regular IPS monitor. They have a number of issues, including input latency, backlight bleeding, low response times, horrible colors when the brightness is turned low (i.e. if you were gaming at night), they run hotter and are many times more likely to suffer from noticeable coil whine.
If you want a nice monitor upgrade, go for it... if you tend to play mostly strategy games, mmos, more casual racing games, or other games where reflexes aren't as much of an issue, the 1440p monitor is a great option.
If you want smoothness, an incredible refresh rate, an advantage in shooters or twitch games, go with a 120Hz monitor. I would also strongly, strongly recommend getting the Asus G-sync monitor. You can't use it with your AMD card, no, but when you upgrade, it'll be there waiting for you. The reason G-sync is so desirable is that it perform's vertical sync's job of removing screen tearing without the issues of input lag or the requirement of factors of 60.