Is the performance boost good? Are you a gamer (e.g. BF3)? What's it like in those games.
120Hz is excellent for gaming, everything feels so smooth after using a 60hz monitor - ideally you want to run games at 120fps to get full benefit, but anything up to that should be a nice improvement.
Next there is the Dark Eq function which is great for BF3. It's basically the same as increasing the brightness in a game so you can see people easier, but it only affects the dark places (e.g. shadows, corners and looking inside buildings from the outside). So you can see people much easier without the downside of being blinded for life when you look at the Sun.
There's also the 3D function which seems to have been getting some nice recommendations on this board, but I haven't tried that yet.
Finally because of the 120hz amongst other things this monitor has a very fast response time, I think it's stated as 2ms or something, but that number whether right or wrong is mostly irrelevant, what you do need to know is it is amongst the fastest monitors, and you will not notice any lag at all with AMA+Instant mode on. The TFT review has some great comparison pictures about this:
http://www.tftcentral.co.uk/reviews/benq_xl2420t.htm
I think those are the only real selling points for this monitor, although they are great reasons to buy it, if those don't particularly interest you then all this is is a good quality 24" 1080p monitor. Personally I think it's awesome for gaming however
But forget what you might have read - it comes down to individual preferences. Really if you notice any extra 'lag' or anything you don't like enabling V-sync and Triple Buffering then don't. If you notice tearing without and you don't notice any lag or whatnot when enabling it then do enable it.
I recommend turning triple buffering off (it is on by default), you will need to edit the config file or download one of the programs that lets you edit your BF3 settings outside of the game. My reasoning for this is not based on any scientific fact or even the slightest understanding of what the function does, I just know I get higher FPS with it off! But I wholeheartedly agree with PCM here, it is best to draw your own conclusions about what works best for you, my opinion on Vsync in general is I don't like the input lag/frame cap. However while playing BF3 I don't notice either of these things - but as a creature of habit I still prefer it off
