I really like the U2412M monitor, it does offer some nice things for a monitor with such low price tag. I really love 1900x1200 native resolution, it provide comfortable workspace and is still good for High Definition movies
Since this is my first IPS monitor, I can't compare it to more expensive IPS technology like S-IPS or H-IPS, but it totally beats all the TN panels that I have owned. LED backlit seems nice too, on my model there is no backlight bleeding, and it is really bright. I can easily work with it and see everything while sun is shining directly into it. I think it is good all around monitor, that is quite good with any job you can trow at it. However professional photographers and other people who needs real colors or extended gamuts, would still prefer the older and more expensive U2410 model, because U2412M still uses 6-bit colour depth with Advanced frame rate control (A-FRC), and this is the same to all the other cheap monitors out there.
The build quality is decent, though it does seem a bit cheaper and lighter than older Dell monitors, but it beats the competition in my local store
Here are couple of profesional reviews of U2412M, one also has direct comparison to U2410. Both reviews are right on the money in my opinion:First reviewthe second review