IPS, not IMS, and this is not necessary. It's just a different type of monitor with better color accuracy and viewing angles. Most monitors are TN. There's really no point in IPS unless you are in some art profession or want 2560x1600 res on a single monitor as they cost nearly double the price with no real benefit to gamers.
VGA is not recommended and is being phased out, no high end cards have them anymore for a couple of years now. DVI and HDMI are both digital and will get the same quality, VGA is analog. HDMI has audio.