Of course the meat and potatoes of any monitor is its image quality, where typically a TN-based display such as this can't hope to compete with monitors using IPS (like the Dell UltraSharp U2410) or PVA (such as the Samsung SyncMaster F2080) panels.
This is immediately apparent with the E2472HD, which suffers from the usual TN bugbear of being unable to display crisp whites and the darkest shades of the greyscale simultaneously. In fact, no amount of tweaking allowed it to differentiate between the subtlest dark tones, making a mockery of the display's ludicrous 5,000,000:1 dynamic contrast ratio and meaning you'll inevitably miss out on some subtle black detailing in films and games.
Thanks to very strong contrast shift on vertical viewing angles you have to sit at just the right height (or tilt the monitor at just the right angle) to prevent colours looking decidedly washed out. Speaking of colours, we also noticed obvious banding across green gradations.
However, with these negatives out of the way there's plenty to like too. Having just mentioned the E2472HD's inferior vertical viewing angles, its excellent horizontal viewing performance comes as something of a surprise. As you would hope with an LED-backlit display, there's no sign of light bleed and backlighting proved very even.
Sharpness was also excellent, making small fonts legible and bringing out plenty of detail in high definition video, despite the aforementioned flaws and some slight dithering noise. Of course, with its native 1,920 x 1,080 resolution and HDMI input the E2472HD handles Full HD video and console gaming just fine, and offers aspect ratio controls for lower resolution sources.
After calibration colours were fairly realistic, and though they always retained a slightly muted quality, at least this means you won't be suffering from common problems like oversaturated skin tones. The E2472HD's 2ms quoted response time doesn't seem too far off either, as there was barely any sign of ghosting.
Aside from the slimness LED-backlighting affords, another significant advantage is lower power usage. The E2472HD consistently consumed under 23W on the high-brightness Movie preset (comfortably beating even the 23in Samsung EcoFit SyncMaster P2370) – and activating Iiyama's aforementioned Eco mode pushed this down to an even more frugal 14W maximum! Obviously this did result in a significant drop in colour vividness and contrast, but the dark trailer we were playing was certainly still watchable and for office use this is hardly a disadvantage.
Finally we get to value, where the E2472HD will come with an MSRP of £199.99 when it hits stores towards the end of June. This is pretty much in line with many 24in Full HD displays, and actually on the cheap side for a triple-input LED-backlit one.
Unfortunately for this Iiyama and every other £200-odd TN-based monitor out there, that's currently also the price of the Award-winning Samsung SyncMaster F2080's bigger 23in Full HD sibling, the F2380. It offers a cPVA panel with superior colour accuracy, viewing angles and contrast, not to mention full ergonomic adjustments (including height, tilt, swivel and pivot), making anything less a particularly difficult sell.
Iiyama's new LED-backlit E2472HD is a decent-looking, slim, well-built and fairly well-featured monitor, and the most frugal 24in display we've come across. It can't quite match similarly priced alternatives for either image quality or flexibility, which puts a dent in its otherwise decent credentials, but it's bound to become more attractive as its price comes down.