The TFT you have listed does not apperar in the Philips catalogue. All their 17" monitors start 170....
A check shows that Viewsonic make a model VE710B and this has a resonse time of 25ms.
If your kids are even semi serious gamers playing the latest 3D games then they will quickly be telling you that the monitor does not keep up well with these fast moving games. You need a respose time of 16ms or less to do this.
I would look to have a different TFT - go for a iiyama 431S - top of the PCA chart and at last actually becoming available.