Latest generation panels can be as or more crisp and bright as crt but they have to run at their 'natural' resolution for sharpest display.
For gaming purposes the fastest reaction time is better. 16ms should be good but some 12ms are already out - I think Benq was the first.
The thing is that 25ms panels, which are good enough for most graphics and movie purposes, usually have a better viewing angle. Put it another way, all panels I know of with 170 degree horizontal and vertical have 25ms reaction time 'only' and the 16ms or faster have only about 140 degree.
Another thing to consider: don't go for a panel with analog connection only, even if your graphic card has only analog out, you might buy a new card in the near future but a good monitor is likely to stay with you for 2, 3 years at least..