I use a CRT display, and the colors are great. With LCD, the black levels are not that good, and the color gamut is iffy depending on the design of the LCD panels and the back lighting. I looked at a Flight sim on an LCD monitor and it was terrible, compared to how it looks on my CRT monitor. Don't forget. LCD monitors come in different qualities, and you really have to compare the side by side to see the difference. The entry level monitors are usually pretty poor quality.
Agreed. The only LCD I have encountered in which colors don't look at least slightly washed out is my wife's screen, an LG W2240T. It definitely wasn't entry-level. I'm not fond of the widescreen aspect ratio either, which is why I stuck with the CRT.