I agree with you fish99 regarding many people would not notice a dead pixel. friend of mine has one with a dead sub pixel, asked me to find it looking at the panel while a website, then word doc was open. I couldn't find it, looked on several different colour backgrounds and still I didn't see it. Once pointed out to me then yes, but it was a bright red background that made it show as a small dot the size of a pinhead.
It could then be found on backgrounds of different colours but once text or graphics were on the screen it was very difficult to see, even though I now knew were it was. I could quite happily live with one that was like that, but fine in all other specs. I think I could accept one that was slightly larger, IE: a full pixel if it was near the edge of the display. I could not live with one that was in the centre, really obvious or if there were several of them.
So, easy way is to leave things pretty much as they are and treat each case on an individual basis, those who do not see them or can live with them, fine. But if it really is getting to you then I think the monitor manufacturer should e prepared to change out. If this means price going up by £10 to £15 per unit, I think we as customers would accept this. The present standard or requirements for an exchange are too strict. I paid almost £400 for my panel, if I had paid 6 - 7 - £800 for it, I would be pretty damn upset if it was bad enough to annoy me for the next couple or more years of use.