In my case, the monitor will only be used sparingly so I wasn't very concerned by the resolution. The rebates brought it down to price of a 22" LCD so I figured I'll just buy it.
If this monitor was gonna be used by me every single day then I would have bought a 1920 x 1200 monitor so I have more viewing area. Also, I would have spent $600 - $1,000 for a monitor that has better image quality instead of a mere $238.
At the smaller resolution you might get a boost of 5% - 8% better performance in games, but your viewable area is also smaller.
Which is better? On paper they are almost the same other than resolution. You're not gonna get a definitive answer unless you can find someone with both monitors. Otherwise read the opinions over at newegg.com.
The Asus VW246H / VK246H should satisfy most average users and gamers, unless you want 1920 x 1200 resolution. Nearly all modern games should be able to handle 1920 x 1080, which games don't? I don't know. The oldest game I tested was Far Cry 1 (2003??) which seems to handle that res.