1080p monitor, 20-24", $200-ish

There are a lot of very similar displays in the 20-24" size range for roughly $200. I want one for my new gaming machine. I understand that $200 won't get me a bleeding edge top of the line gaming display; I just want to pick one of the better deals out of the midrange consumer displays available. I want 1920x1080 native res ideally, although 1920x1200 is fine as well. I'd prefer to avoid bigger resolutions (doubt this will be an issue in my price range, heh) and certainly nothing smaller than 1080p. My budget isn't super strict; I'd like to spend less than $200 if I can do so without sacrificing quality, but if I can get a significantly better display for a few bucks more, I could be persuaded to splurge a bit. I'm building a new PC from scratch, and a gaming machine is only as good as the display it's connected to, after all.

A specific model suggestion would be great. Beyond that, I have a couple general questions:

-I hear 1000:1 contrast ratio is pretty good, but I see a lot of panels claim to get ridiculous ratios (10,000:1 or higher). Is this just "fuzzy math" and redefining the units to make the same quality sound like a bigger number or is there some amazing contrast ratio technology in a lot of cheap displays?

-Are the 2/5ms response times a reliable indication of refresh rate / motion blur issues / etc. or do they vary based on how the manufacturer defines things? If they are reliable, is 2ms noticeably better than 5ms? Is 5ms good enough for gameplay to be relatively smooth without graphical artifacting or anything like that?

-What other specs/stats should I focus on when selecting a display?

Forgot about this thread. I bought back in September, got an Acer H233H because it was on sale at Fry's and had good reviews online. So far, no complaints, and it's a great display for the $179 I paid.