I agree with the blow out highlights, that simply means your information is lost.
A sensor however is more like a linear device, so at the lowest darkest parts the "steps" it can record are very small but the number of "steps" increase when the exposure/brightness increase as well so that maximum number of steps is just below the limit when you blow out the highlight, that's the reason why you want to expose to the right when you shoot with RAW at least.
With JPG you should get the best photo out of the camera that you can because the more you need to edit the more the photo degrade.

A read
http://www.luminous-landscape.com/tutorials/expose-right.shtml

And here is a test, as you can see it's not just noise but also details.
http://schewephoto.com/ETTR/index.html

Yes sorry i thought it was actually the sam monitors in my links

The Iiyama looks good but i wouldn't dare to edit my photo's on it though...
Also for 27inch you would want more resolution than that, 2560 x 1440 is the one to aim for but it will be very expensive...

There are some cheaper 24" IPS and PVA panels.
For 27" your screen will get very big and the limited viewing angle off TN will make the bottom and top half appear differently so IPS or the new cPVA are the ones you want for those big screens.

here are the smasung and the benq that use the new type PVA panels, sadly they are only 6bit colour though
But the contrast is amazing
http://www.tftcentral.co.uk/reviews/samsung_f2380.htm

http://www.tftcentral.co.uk/reviews/benq_ew2420.htm

I've no idea hwere the best response is for the slide, for digital it's just below the burned out highlight sadly enough so that means you need to expose against the highlight to get the most out of it, is that also true for slides?

I would spend a bit more and get a colour checker passport instead.
That one besides the white balance also makes a colour profile for your photo/camera.

Didn't know about the hightlights and slides, i thought it was closer to how film reacts, that one is more forgiving.

Shooting with film/slides might be a good idea for some if they need a forceful hand but if you set yourself a limit of 10 photo's and can keep yourself to that you would have the same effect right?

If you've the room and can find one, RCT have a very good image quality.

How much money do you want to spend?

What about this one?
http://www.amazon.co.uk/ViewSonic-VX2439WM-display-widescreen-speakers/dp/B003FO...=sr_1_1?ie=UTF8&qid=1305058116&sr=1-1
review http://www.tftcentral.co.uk/reviews/viewsonic_vp2365wb.htm

Don't stare to much at the brands, LG actually make most of the IPS screens (apple dell hp, ect) and Samsung makes PVA screen (Eizo hp, ect.) so all in all it's the features, processors and the light behind the screen that makes the real differnce.

Here this what i mean.
ViewSonic VP2365wb - 23"WS LG.Display e-IPS (LM230WF2)
NEC EA231WMi - 23"WS LG.Display e-IPS (LM230WF2-SLA1)
Dell U2311H - 23"WS LG.Display e-IPS (LM230WF2)
NEC PA231W - 23"WS LG.Display e-IPS (LM230WF2)
NEC EA231WMi-BK - 23"WS LG.Display e-IPS (LM230WF2-SLA1)
NEC PA231W-SV - 23"WS LG.Display e-IPS (LM230WF2)
NEC SpectraView 231 - 23"WS LG.Display e-IPS (LM230WF2)

How is the exposure of the photo?
It's better to slightly over expose when it comes down to noise so if you've bump up the exposure in processing than that's the reason.

And PVA have better blacks but is inbetween TN and IPS when it comes to viewing angles but for a decent size desktop screen that shouldn't be a problem.

Not to make it too technical or off topic but wouldn't a slide react differently then a sensor?

Yeah.. wasn't really awake yet