Pros: Excellent color reproduction, perfect viewing angles, great brightness and contrast, good response time, strong durable case and stand
Cons: Expensive, limited connectivity options, adjustments have to be done through software
The color reproduction of this monitor is fantastic at stock, and it can be further improved by professional calibration though that is not needed if this monitor is no used for professional work. Color tracking is unbelievably good. The monitor can display 1.07 billion colors since it is a 10bit monitor. As measured by Anandtech, the display manages 111.36% coverage of the AdobeRGB color space (and it reaaly shows) which is very impressive (the average for TN panels is around 50-70%).
The brightness of the monitor is also great at ~385 cd (around the same level as the Apple Cinema display), and the black and white levels are very good, leading to a 850:1 contrast ratio which is impressive for a CFFL monitor. The monitor suffers no visible backlight bleed and is very uniform throughout.
The refresh rate is under 10ms (total), and the monitor can handle FPS and RTS games very well. Playing CSS and BF3 is definitely not a problem and the total refresh rate is the same as good TN panels. Of course this comes at the price of not having a scalar and OSD; the competing Dell U3011 which has a scalar and OSD has a response time of 30ms, far greater than its HP counterpart. Not having a scalar of course limits the setup of this monitor, but with an OS like Windows 7 and NVIDIA drivers, I have never encountered a scalar-related problem in my 10 months of ownership of this monitor.
Viewing angles are also excellent and the build quality is fantastic, the stand is incredibly strong.
The only negative things about this monitor are minor; the monitor gets noticeably hot at a <10cm distance, it does use a lot of power 150w power draw, the connectivity options are limited (DVI and display port), and it is still expensive even though it offers the best price performance in the high-res IPS 10bit market. And finally, the monitor does not have a scalar and On-Screen Display, all adjustments have to be done through software.