LED monitors are absolutely beautiful.
They look virtually the same as CCFL backlit monitors except for being thinner and with less power consumption, since almost every single one that's a reasonable price is edge-lit.
There are monitors that look much better, that are neither LED-backlit, nor 120Hz.
http://accessories.us.dell.com/sna/productdetail.aspx?c=us&l=en&s=bsd&cs=04&sku=320-9271&dgc=SS&cid=27722&lid=628335
http://accessories.us.dell.com/sna/productdetail.aspx?cs=19&c=us&l=en&sku=320-9270
http://www.newegg.com/Product/Product.aspx?Item=N82E16824236122&cm_re=asus_ips-_-24-236-122-_-Product