3ms response time almost certainly confirms a TN panel. If you've never had a MVA or or IPS panel, it should be fine. Die hards at [H] would give you an earful about the difference between TN and MVA/IPS. Having never had a MVA/IPS panel myself, I couldn't really say. Though I'm pretty sure I saw a 26" TN and a MVA/IPS 24" side by side at a store recently and the 24" definitely had nicer colors <shrugs>
If you want to find out whether your LCD panel is TN or not, you can do what people call the globe test:
ever taken an image (jpg, bmp, etc) into photoshop or any imaging program and did the invert option?
on a TN matrix panel, viewing THIS image straight on will look normal
however, looking at the image from BELOW the monitor and staring straight up will cause the image to basically invert, like this
now, it won't normally be that durastic, but it's a very easy thing to notice. if you have a TN, the screen colors will start to change to a "Negative" effect, such as an invert.