It is less important for LCDs than with CRTs from the perspective that with the native resolutions of any LCD all 19" monitors that run at 1280x1024 have the same pixel pitch, only if they have a different resolution does the pitch change. This is unlike CRTs where there is no native resolution and the pitch of monitor is a critical variable to the quality when comparing various equal sized monitors.
The 20" you speak of (i bet its the Dell) runs at a 1600x1200 resolution and the 19" at 1280x1024. That being given the 20" will likely seem more detailed or precise than the 19" as each pixel is less noticable. However, the rule to keep in mind is that you really can only run these panels effectively at the native resolution so that if you think 1600x1200 is too small, the degradation of image by running it at 1280 or 1024 is significant, again, unlike a CRT. I don't think you should compare the pixel pitch of a CRT to that of a LCD panel.
I should point out I haven't personally seen these desktop panels (my 17.4 panel is backordered) but i am making the comparison based on the comparison between my 14.1" 1024x768 laptop screen and a friends 15" 1600x1200 screen. The latter was stunning but without forcing increased font sizes was simply too small to read. I'd love to see the same res on a 20" panel. As well, if you are running XP, Cleartype really makes the LCD panels even more readable at least to my eyes.