<< I have been using a 15" Reflex monitor at 800x600 75hz for over about 3 years now. Just bought a 17" viewsonic E75 E2 monitor and plan to run it at 1024x768 85hz. Will I see much difference in picture quality,sharpness,colors,ect going to this monitor? >>
Since I've never seen a Reflex monitor, I cannot tell you the difference you will see in sharpness or colors.
Things that you should notice:
1) The newer Viewsonic should be much flatter - eliminating alomst all fishbowl effect your older monitor had.
2) The screen area is roughly 28% larger. This is a good noticible jump, but it won't blow you away (you would have needed a 19" monitor to be stunned at the extra size).
3) The resolution gives roughly 64% more pixels - this will be the most dramatic change for you. Thus you will see much more detail in games that use this higher resolution. In non-game use like Windows, Word, Email, or Excel you will see dramatically more of your work at a time. I'll focus on Word since it is easiest to explain. At normal zoom in 800x600 resolution, you must scroll left/right if you want to see the whole width of the document at the same time then you must scroll up/down for three full screens to see the top and bottom of the page. At normal zoom in 1024x768 resolution, you will never need to scroll Word left/right and you only need two screens up/down to see the full page. That is an enormous time saver and you will really like the difference if you do much of that type of work. Unfortunately you need 1600x1280 to see a full page at a time.
4) Note the discrepancy in the screen area increase and the pixel increase. With 64% more pixels and 28% more area, you will notice that icons and text will be much smaller in size. This will take some time to get used to (or you can increase the icon and font sizes if you wish). But since things are smaller, they will look better (jagged lines will look smoother when they get small).
Something that you probably won't notice is the refresh rate. If you aren't getting headaches with 75 Hz, then you won't get headaches with 85 Hz. Refresh rate will have no other important effect.