Contrast can be taken with a grain of salt as far as OEM specs go. This is what the Anandtech folks say about it: "Contrast Ratios: Contrast measurements were originally supposed to quantify the difference between the lightest light and the darkest dark on the LCD. For example, if a black portion of the screen has a brightness of 0.5 cd/m2, and a white portion has a brightness of 250 cd/m2, then the monitor would have a contrast level of 500:1. Almost immediately, this measurement has been abused; manufacturers can take these measurements on angles to assure darker darks and brighter brights. Furthermore, other manufacturers take these measurements in different light settings and with different test pattern (some take measurements with the screen completely dark, while others take measurements with the screen in a checkerboard pattern). Unfortunately, relying on manufacturer Contrast Ratios too heavily during a purchase will probably lead you astray. To correct that, we will run a standardized test in our lab that tests contrast ratios of all of our LCDs in controlled situations."
One thing I always like to do when monitor shopping, especially on the Internet, is to go to stores locally like BestBuy, COmpUSA, Office Depot, Circuit City, etc., etc. and look at them when they are all usually displaying the same signal. Direct comparison sometimes trumps specs. For gamers, an import spec is Response Time. You want 8 milliseconds or less to avoid ghost trails from your mouse and other objets.
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