An old, but presumably still valid review here click here
A stement that videos were still smeared would suggest it's not so good for videos.
If you look around I'm sure you could do better than this review suggests.
Budget monitors by Acer, Benq, LG are all ggod buys - look for a response time of 12mS or less.
DVI = Digital Video Interface is an alternative method of sending the signal from your computer to the monitor, avoiding some conversion circuits for theoretically better pictures. In practice most people can't tell the difference in most cases.
In order to use DVI, both you computer and the monitor must have a DVI connector. Most DVI monitors also have a standard VGA connector too. The connector is usually white, and is a bit longer than a standard VGA connector with many more pins/sockets on it. If you have a seperate graphic card, you won't be able to miss it - and it'll be right next to the standard VGA connector.