I recently started work with a company that had in the last six months changed over to using tft's.
Seeing we had a VM 454 (previously used by our designer) lying around in a workroom unused I asked if I could 'borrow' (ahem) it, which my co where happy for me to do since it was just gathering dust.
The only problem I had with the monitor was a buzzing noise it would make, I reported this to Ilyama and they very swiftly agreed to exchange it (excellent customer service all round).
I am very happy with the replacement and now use it as my primary monitor over the 15' TFT I have used at home for the last 2 yrs (with a 9600XT gfx card).
In comparison to both my TFT and the 17' model I use at work there is a vibrancy about the screen image and it offers a greater degree of flexibility with multimedia applications.
Downsides? well text output while good isn't on a par with a good TFT, its pretty big but nevertheless reasonably aesthetically pleasing due to its rounded as opposed to boxy shape you normally find with other CRTs so it doesn't feel like its dominating your desk.
All in all I'd consider it to be a good buy but you really need to take a look at this model and the TFT you are interested in to help you make up your mind.