I recently found out that Shmups are teh bloody awsomeness itself!

Anyhow, I am looking for a nice monitor to use with mame and my superguns.
ppl seems to dislike TN panels, but from what i can understand IPS and MVA panels suffers from inputlag, but have better viewing angle? (High ms a problem?)
Is TN panels really that bad? and if so, can anyone recommend a good non TN monitor för my TATE solution?
The pivot function is also a pain, since not many monitors have it from what i can see

Last but not least.. shall i go for 16:9 och 16:10? This monitor will mainly be for Shmups.
I dont have truckloads of cash so please not above 300 usd
Thanks in advance guys/ladies!