Finally, the choice between IPS and TN based panels boils down to your requirements and budget. If you extensively work with Photoshop or other image and video processing tools, the benefits of an IPS panel are immense. The wider color range allows you to view colors accurately and allow multiple people to view your display since it has a wider viewing angle.
Gamer's could choose between a TN panel or an IPS based panel depending on their budget and video card. If your video card supports games at lower resolutions, an IPS panel could be a good choice as it would offer you better on screen imaging at a lower resolution. For those with more powerful video cards, a TN panel would offer you more screen size for the same price and allow you to game at higher resolutions.
For those buying an LCD for the primary purpose of watching movies, an IPS panel would offer you true consumer HDTV level display quality.