response time is basically how fast the panel can refresh a pixel. slow response times can result in things like ghosting, where an object moving across the screen appears to have a trail or "ghost" following it, because the monitor couldn't quite refresh those pixels fast enough. does that make any sense?

if you're using it for wbe browsing and e-mail, you very likely will not be able to tell the difference. but in heavy gaming and possibly watching movies, you might start to see a difference between the two panels.

it should be noted that each manufacturer/vendor measures and rates their response times differently. there is no standard way of doing it, and the measurements can be taken in the most favorable way for each panel. so these numbers are usually almost insignificant. but a dell compared to a dell should be pretty consistent.