2407WFP was the original version of the screen, and only real difference when they updated to the HC (HighColor) edition is that they changed the backlighting to offer an extended colour gamut covering 92% of the NTSC colour space instead of the usual 72%. However, Dell also changed the panel slightly, and there are some unfortunate ghosting issues on the HC model.
The E248WFP is TN Film based though, and also has fewer features. That's main difference really.
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