I recently bought a Viewsonic Professional Series LCD. Its VP930b. Its an MVA panel, so the quality of color reproduction is unmatched. All I can say is, i WILL NEVER GO BACK TO CRT! Things are so clear and crisp on this monitor. The first week I was just looking at the letters in IRC and going WOW!
There is no ghosting or lag in the display in even the fastest of FPS games (And I have been gaming for years, playing all the FPS games). Its rubbish that we have to look at R10000 LCD's like xenithon said. Just as long as the refresh rate is under 8ms or so, and its a good brand like Viewsonic, Dell, BenQ...etc then you wont have any problems, and games will be smooth.
The problem is that people buy these CHEAP CRAPPY LCD's, that are meant for OFFICE use, like sending e-mail and doing MS Word, and they think it should be awesome in games, but then it streaks and ghosts. Duh! You have to specifically buy an LCD for Gaming! Like Viewsonics X range.
The only problem LCD's have is that their refresh rate isnt as high as CRT monitors. My LCD can only do 75hz at 1280 x 1024. So its not AS SMOOTH as a CRT.
The only time you really need a CRT is for professional / competitive gaming. Everyone else will do just fine and be very happy with a nice 19" LCD Screen.