There are several types of panels: TN, IPS, AFFS, MVA, PVA and ASV. The most common of these is the TN which can be found in almost all consumer grade TFT displays.
Color, contrast, viewing angle and response times set there panel types apart from each other. TN is the cheapest of them all, hence it's consumer grade. But it also happens to have the fastest response time of the bunch. MVA and PVA usually have better color, contrast and viewing angles than TN, but fall far behind in response time. IPS beats all of those in all categories, except in response time to TN panels. AFFS is like better IPS, but I haven't seen a single AFFS display within consumer budget, it's probably more expensive than IPS which is already more expensive than TN, MVA and PVA.
Still, there are a few high-end consumer grade TFT displays that use IPS panels. You just need to look for them. For example, following displays are IPS:
- HP ZR22w, HP ZR24w
- LG W2220P
And with LED backlight
- LG IPS231P
No matter what, always read a bunch of reviews before deciding on any display. Still, I'm sure good quality TN display will work out just fine too, particularly for your wallet. You get what you pay for.