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LED only has the best contrast if you're looking at a local dimming LED backlighting. Basically - they have a grid of LED's lighting the panel - and in areas of black - they will dim the LED's so the panel won't have to mask the light - thus producing a darker black.
quite a few tv's are Edge LED lit now, which do not always produce a better picture than a conventional CCFL lit LCD panel.
if you're looking at monitors, I don't think any monitors are local dimming - meaning that if you get an Edge LED Monitor, you're only paying for the thin design.
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