The monitor world is one of the most subjective things out there right now. If your eyes aren't real sensitive, you may not notice any ghosting or issues with color on that monitor. If your eyes are sensitive to that stuff, it might drive you crazy.
The difference between that monitor and a $300-400 one will be different from one person to the next. For example, some people swear by 120 Hz displays. Some people stick to standard budget 60 Hz TN displays and they're fine. I myself could never go back from an IPS display now that I finally shelled out $400 for the upgrade