There is a couple things that I wouldn't like with that computer, one is the motherboard....it is a $50 special. The 580w power supply....ibuypower can not even list a name brand of that power supply. I would be willing to bet it is also a special deal.
I would guess you can go to the actual site and configure a better computer for a better price. I went to the site and configured the same computer with a lot better hardware and it's only about $100 more. And if you order by Oct 7th it has free shipping. With the shipping cost of Newegg...it's like almost the same price! In the end I think you'll be much better with a custom configured system

This will also leave you better options to upgrade in the future.
Case ; Nzxt Lexa Blackline with red Cold Cathode Neon Light
PSU ; Corsair CMPSU-650TX
CPU ; Intel Core 2 Duo Processor E8500
motherboard ; Asus P5Q Pro Intel P45 Chipset
RAM ; 2GB Corsair XMS2 Xtreme w/Heat Spreader
Graphics ; Evga 9800 GTX
Hard Drive ; 320GB
CD/DVD ; Sony Dual Format/Double Layer
Operating ; Microsoft Windows Vista Home Premium
http://www.ibuypower.com/ibp/store/configurator.aspx?mid=224#header
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That monitor will work but here is another to consider. It is the same one I have....great specs and it has a picture that is unbeatable! Just an idea

The monitor Cohen chose is a great deal for the price!
SAMSUNG 2253BW for $260 (a few dollars cheaper)
http://www.newegg.com/Product/Product.aspx?Item=N82E16824001268
What do you think Cohen?