Conclusion: It's always interesting to take a look at a new IPS screen entering the market and Asus have done a good job here I think with the ML239H. Asus aren't traditionally a big player in the monitor market but are starting to release a few new models with interesting features and specs, and using the ever-popular IPS panel technology. The ML239H offers a good spec and a reasonable range of features and options for the price.
Pros: Good pixel responsiveness and low input lag, Decent colour accuracy, white point, black depth and contrast even out of the box, Competitive price point in 23" IPS market
Cons: Useless dynamic contrast ratio in practice, Some backlight leakage (may vary), Missing height adjustment stand and DVI input