My Philips monitored has turned up today, I am very happy with it. In fact I think it is just about perfect.
No dead pixels, great viewing angles, hardly any backlight bleeding. It does a great job of keeping the correct aspect ratio of non-widescreen games.
Just go into the menu and set it to 'Fill with aspect ratio' then the monitor will do everything for you. For example, if you choose relolutions such as 1024x768 and 1280x1024, then the monitor will display black borders either side without stretching the picture.
When you switch from a non-widescreen resolution to a widescreen resolution, then the monitor will automatically get rid of the black borders either side and fill the screen.
If you want a non-widescreen resolution screen stretched, then just change the settings to Fullscreen.
This is without the best monitor I have ever had and I strongly recommend it to anybody who is considering buying one.