What are you wanting to use it for?
I haven't used the Iiyama myself but I am very familiar with the characteristics that all VA panel monitors share - particularly the very slow pixel transitions between certain colours. I have recommended and have been quite fond of some smaller VA panel monitors for their price to performance ratio and I do believe they make excellent general purpose monitors. They are very weak gaming monitors though, it is really difficult to hide that and if you're used to a TN panel monitor you will undoubtedly notice this. The high-contrast transitions in particular (mainly during dark scenes but elsewhere too) leave a smearing trail that other panel types simply don't suffer from. It is possible to get used to this to some extent but it is certainly something to be aware of. Other than that the contrast and colour reproduction advantages over similarly priced TN panel monitors can bring a lot to general purpose use. The screen surface on VA panel monitors (I doubt the Iiyama is an exception) tends to be a light haze as well which is quite a good compromise; providing a little extra image vibrancy and clarity whilst also doing a good job at reducing glare and reflections.
So I suppose it would depend on how important the gaming aspect is and how sensitive you would be to a noticeably lower responsiveness than your current monitor. I haven't used a 27" VA panel monitor as it happens but I imagine the large size would exacerbate these problems.