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Backlighting is a completely different issue to panel type, a TN with LED is still just a fancy TN.
As for OLED, I wouldnt hold your breath, it is going to be a while before we see it in affortable desktop monitors.
5ms is plenty fast, I would save a few $ and get the cheaper one if overdrive is the only difference (not to mention poor implementation of overdrive is painful).
Response time of 8ms or less doesnt really make a whole lot of difference. Infact slower response times will sometimes look better due to less heavy overdrive.
I don't actually have one, nor am I seriously considering buying one. It simply piqued my curiosity and after missioning for a while I was unable to satisfy it. Mastakills panel sounds like a *VA to me, maybe some Apple laptops use IPS?
EDIT: Just to point out that not all portable devices...
After doing some looking around online and searching threads here, I have been unable to locate any information telling me what types of panels are used in the various laptops that are available - I have not even seen a brand publish viewing angle specifications.
I know most are TN from hands...
If you have lots of money get the Planar 26" S-IPS, or a 24" NEC, otherwise the BenQ, LG (or is it the HP one?) or Dell 24" are supposed to be good (plenty of threads on here about them).
2007WFP is not guaranteed S-IPS, you could recieve a S-PVA. Afaik at least with Nvidia cards you can...
Not only does it have a sucky panel it is also fugly compared to the sexy 2007WFP. Glad I picked mine up when I did rather than holding out for a model refresh. What would make them take this massive backwards step in design to a silver bezel and that ugly rectangle base :S
You gave me that impression when you mentioned you were getting a projector, and they arn't cheap (at least not in Australia). Whatever you do, don't get TN!