Any thoughts on this LCD?

[elektrolokomotive]

I was thinking about picking this unit up from the Egg, since the price seemed reasonable, and it was well reviewed. One question though: After checking Acer's site for specs, they indicate that it is capable of "up to" 16.7m colors. I do some work in Photoshop, and dithered 24bit images would be unacceptable to me. Does this indicate it should work OK with 24bit color?