HI Leon,
Best bet is to trundle down to your JB Hifi store in Ballarat and pick up a Benq 21.5" LCD screen for only $292, has a 10000:1 contrast ratio and 5ms response rate. On the same page is a Samsung one for $328 but the BenQ one is better stats wise.
Can't really go wrong at JB, they have good prices overall.
http://www.jbhifi.com.au/computers/desktops/
Also, try Hardly Normal in Ballarat, they have some good specials on 22" LCD monitors and above. There is one there for $799 for a 26" widescreen but that's getting a bit decadent even if money is no object.
http://www.harveynorman.com.au/produ...-monitors.html
Overall, look at paying around $300 for a 22" LCD and about $500-$800 for a 26" LCD.
You might find some specials around the traps too, check out the usual suspects at Good Guys, Bing Lee, Harvey Norman, Clive Peeters and JB Hifi and see whats on special.
Al's advice is good, 10000:1 contrast and less than 5ms is probably your baseline, and more contrast and lower response time is just cream on the cake.
Good luck and have fun shopping, dont be afraid to say "mate, I will give you $500 for that $799 monitor" and see what they do. If they say no, walk out, muttering about spending your money elsewhere, then come back 30 minutes later with $500 CASH in your hand and check again. You might be surprised.....
Cheers
Chris