A 2007FP you will only find used these days. I think they were manufacturing them all the way into 2010, but even the newest ones you may find will be 5+ years old. Many LCDs are still great at this age, some may develop issues.
My current 2007FP has a somewhat uneven backlight with the right side being more yellowish, but it is mostly only seen on white backgrounds. It is not an issue at all when gaming.
Also, some 2007FPs where PVA instead of IPS. I don't know what's more common. The sure way to know is to consult the unit's serial number. It will either end in S (Samsung S-PVA) or L (LG-Philips S-IPS).
I do agree that getting a 24" 1920x1200 monitor that can force a 4:3 aspect ratio is probably more cost-effective in general. You can still get these new, they are slightly taller than a 20" 4:3 (about as tall as a 21" 4:3 would be), and you have the higher resolution support for running a modern OS. However, for a machine intended purely for old games, it may be overkill, cause you will never use the extra resolution, and it does take extra space.
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