First, all 1920 x 1080 LCD monitors uses TN panels which is why they are so inexpensive. The same can be said for for any 24" LCD monitor that costs less than $550 (when not on sale). They are inexpensive because they have 120 less rows than the typical 24" LCD monitor. TN panels have poor viewing angles and color accuracy should be "good enough" for the average user. I would expect there will be some backlight bleeding issues as well.
Not all movies are 16:9 aspect ratio. They are many other aspect ratios used by movies; 2:35:1 is amongst the more popular one. So if the intent is to watch movies without having to deal with horizontal black bars, then you are out of luck 'cause eventually you will see them. For example, Batman: The Dark Knight is 2:35:1 so you will be seeing black bars.
Newer games supports 16:9 resolutions, for example Fallout 3. However, older games that do not support 1920 x 1080 may look distorted. In this case, it may be necessary to run a game in a window at less than native resolution to play the game in the proper aspect ratio.
The best comparison for this type of monitor is to look at 1920 x 1200 benchmarks. The difference in the number of pixels between that and 1920 x 1080 is 10%. Therefore, you can probably estimate that performance on a 16:9 monitor should be about 5% - 6% better.
Having said all of the above, I have placed an order for the ASUS VK246H which is a 16:9 monitor. It will be acting as my tertiary (as in below secondary) monitor. I was simply looking for an inexpensive monitor to connect to my HTPC so that I can "monitor" some processes. I might try to game with it, but I have my NEC 2690WUXi for that.
http://www.newegg.com/Product/Product.aspx?Item=N82E16824236048
The monitor sells for $310 (including free shipping), but by entering the
coupon code: EMCBCBBBA, which expires on 12/17, that brings the price down to $280. There was also another 15% discount if you use PayPal to pay for your purchase, but I think that expired on 12/15. It's not an instant discount, I expect to be charged $280 for the monitor, then in about 2 or 3 days PayPal will give me my 15% discount via my PayPal account (which I assume I can withdrawal or at worst use it for a later purchase). Overall, the total price of the monitor should be $238.
Please do not ask for pictures of the monitor since I do not own a camera.