LCDs and millisecond differences?

sweavesweave boston
edited November 2007 in Hardware
I'm going to be ordering my new lcd monitor next week to replace my old and massive desk hog crt.
so i had some questions
a lot of people (read on various forums) say that for gamers you need a 2ms response time.
the ones i've narrowed it down to either have 2 or 5 ms ratings.
my question as a person who has never owned an lcd before is basically does it really make that much of a difference?

also are there any other factors i should be paying attention to?

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