I have a great monitor that is a LCD flat screen 2ms refresh rate and 1280x1024 resolution. Also, can you direct me to a thread that gives me a list of custom flags and gives me a description of each?
2 ms is the response time, it is not the same as refresh rate. Even though there is 1000 milliseconds in one full second, you won't get 500 FPS from your monitor.
Response time only indicates how fas a pixel can change it's colour from brightness to zero brightness. Lower response time is better because otherwise you get lag on the screen when dark part of image moves over brighter background, or vice versa. Actual refresh rate (frames per second) is announced in vertical frequency or simply in FPS (for example 60, 75 or 80 Hz or FPS). Most common LCD vertical frequency used today is 60, but HC gaming LCD/TFT displays sometimes have higher refresh rates.
2 ms response time is seriously good for an LCD display, though, so probably your screen can also reach higher FPS than for example mine... My display has response time of 8 ms (which is not too bad either) and can do 75 FPS on analog RGB signal (VGA cable), or 60 Hz with DVI-D cable.