Hi Timmy C.
I didnt know that much about LCD's until recnelty either, ive now bought myself one and am very happy with it. When looking for a product i did some reserach into what i should look for. I personally was looking for a screen that did everything i wanted and i had a fairly felxible budget, i dont know what your requirments are in this context. However i do belive that the below might be helpful to you in your endevours:
Pixel response time, this is the time taken for each individual pixel to turn on and off. Its quoted in milliseconds and basically the faster the better. I personally wouldnt buy anything that was over 16ms but Id imagine its down to personal preference. Basically if the panel has a slow response time you will see a visible blurring of the image as it moves (ever seen one of the really old game boys in action?).
Resolution, (amount of pixels that make up the screen) not too important now as most modern screens of half-decent quality will have a high resolution but if you want to get hi-def TV (a standard of television using a much higher resolution equalling much sharper/detailed picture, coming soon!) in the coming years you will need at least 1280x768.
Connectivity, While most screens will come with your standard SCARTS and RF connectors, look out for screens with DVI inputs and/or HDMI inputs. These are all-digital connections to your screen which offer the highest possible quality connection when used with another device outputting via the same technology. HDMI and some DVI screen connectors will also carry the new security information (HDCP) which will be transmitted with UK hi-def broadcasts (according to sky). Basically, if the screen doesnt support HDCP (high definition content protection), you will not be able to view content from broadcasters who use this system. Also, some devices (such as Xbox) use the component plugs for hi-def, so these could come in handy if your screen uses it.
Dead pixel policy, it is not uncommon for one or more pixels on your screen to get stuck on an individual colour or in the off position - for ever! This sometimes get irritating if you notice it all the time as basically whenever u view the screen there will be a dot that always stays the same. The pixels are tiny so from a distance they are often not noticeable. It could be good piece of mind to check the dead pixel policy on a screen before you buy as many manufacturers will replace your screen depending on how many pixels are stuck, on what colour and whereabouts on the screen. This will be most handy if suddenly a few pixels get stuck right in the middle of the screen!
I might have gone a bit over the top here but they are points to consider when spending the amount of money some LCDs cost. Plus it'd good fun watching the Currys guy panic when he realises he doesnt know what ur on about!