I'm using a 17" Samsung SyncMaster 770TFT. Got it for $750 during the Dell 20% off deal a week ago.
I use it primarily for browsing, Web development work, and some gaming. I know a lot of people talk about ghosting when playing games, but I've been playing CS on my LCD just fine.
The Good: Gorgeous display, reclaimed a whole lot of desk real estate, beautifully crisp graphics and colors, and damn sexy. Oh, and as for practical purposes... consumes less power, generates less heat, much easier on the eyes (esp. for long periods of viewing), and light!
The Bad: The chance that you may end up with some dead pixels. The first one I ordered from Buy.com came with about 10 dead pixels. I promptly returned that one for a refund. However, Samsung's general dead pixel policy is 3 or more dead pixels, so you may have to live with a couple if you're unlucky.
The Ugly: The price! Especially when compared with a regular CRT.
I've been using 15" Dell LCDs at the office for a couple of years now, so when it came time to get a monitor for my new rig, there was no question that I was going to get one myself. IMO, their benefits far outweigh the perceived negatives. But until their prices come down another couple of hundred bucks, they'll play second fiddle to traditional CRTs.