I think that it would look awesome. You could for the same $699 get a larger HD TV setup but who wants to put up with all the compatibility issues if you don't have to?
I have yet to purchase a refurbished monitor, however I have purchased several refurbished units with monitors such as laptops and iMacs through the Apple store and they have all been awesome. In addition, you get the 1 year Apple warranty and all of the gear is eligible for AppleCare coverage.
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Refurb Monitor
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