there is absolutely no reason for it to look bad. The Dell 27" is friggin awesome, i wish i had one . The only thing that would make the image on it looked washed out is the brightness and contrast levels. If you mess with those enough you should have a pretty darn awesome image. Mess with the colour settings a bit to. Good Luck !
P.S if you get sick of either the PS3 or the LCD ill take em off ya hands