Monitor Panels

Hi guys! I'm confused with all the different kinds of monitor panels. Can anyone give a brief summery of all the panels like IPS...I don't know the names, in terms of speed, color depth..? and are they all LED monitors?

I'm actually looking for a budget/cheap 1080p, 60hz, decent color monitor, for general use and a little gaming. Any suggestions will be appreciated.

Many thanks!

I dont know a whole ton about monitors except:

TN: Twisted Nuematic, These are conisdered the "fast" monitors. Its the only panel that has 120hz, this also means that they are the only monitors that do 3D well. Color is bad to medicor. 

IPS: In-Plane Switching, Much better color and viewing angel. Can cost more, but they are what editors generally use. Very nice color reproduction, a bit on the slower side.

PLS: Plane Line Switching, Considered the "upgraded" IPS screen. Better color then IPS, even slower speeds.

I dont know much about VA panels, but I hear there inbetween TN and IPS.

Not all are LED but they are very common and very good.

I'm looking at the Asus VS247H, a 23.6" 1080p 60Hz monitor. It has a good contrast ratio (The difference between black and white on the screen) so the blacks will be blacker and the whites will be whiter. It's LED LCD, plus it's at a fairly good price.

now I know......... THANKS!