Back when I had a 19" PVA 5:4 LCD (now with my parents), I couldn't see any difference between DVI and VGA on it. But it was a high quality Fujitsu-Siemens screen (P19-2 was the model I believe).
When I got a 22" Samsung (a mainstream aka "cheapo" TN monitor) that had a 1680x1050 resolution a few years back, the difference between VGA and DVI was night and day. The screen was unusable through VGA actually.
DVI is digital transmission with no signal conversion losses. VGA is analog (so actually digital -> analog -> digital). Depending on the monitor quality (and the VGA output quality too), you may get very bad results due to signal conversion, especially in the high resolution screens.