This Asus MT276HE has a 2ms pixel response time, making it a great monitor for big-screen gaming in 1080p resolution. PCMag says it does a great job with a high-paced PS3 racing game
without displaying any noticeable image artifacts. If you DID want to hook up both a console and PC, you could - the monitor has two HDMI inputs, so there's no need for a splitter. And the integrated speakers even sound pretty good according to several reviewers.
In terms of usage, this would be a far superior choice for gaming compared to a run-of-the-mill HDTV of similar screen size, not only because of its full HD resolution but also because of its stellar response time. Typically smaller HDTV sets have response times less than half this fast.