As far as aspect controls go, Iiyama offers you the choice between 'Full' and 'Aspect'. The former stretches and distorts contents to fill the whole screen, while the latter stretches it only as much as it can without causing distortion. So there's no 1:1 mode, but then on a native 16:9 screen that's not really a necessity anyway.
Overall then, image quality is middling, which to be fair can be applied to most monitors using TN panels. So the important question becomes how the E2209HDS holds up in the value stakes. Available at just over £160, this is a decent price for a Full HD 22in monitor, but some of the competition can be had for less.
If you're willing to sacrifice the HDMI port, for example (not an issue for those who only want a display for their PC), and want Full HD at the lowest possible price, Iiyama's own E2208HDS has come down to about £135 since we reviewed it. A better option that retains the triple connectivity is BenQ's E2200HD, which offers a more attractive design and superior image quality for under £150. Even factoring in the cost of a DVI cable, it's still a better option.
Though it doesn't offer more real estate, if you really want the two extra inches another £26 will get you Asus' 24in VW246H, which still solidly beats the Iiyama in looks and sound if not image quality. Also keep in mind that despite its lower 1,680 x 1,050 resolution, when it comes to ergonomics and adjustability little can touch BenQ's G2200WT currently selling for just £134.
There's enough competition in the TN-based 22in Full HD monitor market these days that Iiyama's E2209HDS fails to stand out. Uninspiring design combined with a price that's just a bit higher than some rival offerings means there are better alternatives.