Summary: While it does support portrait mode, and does look fine in this orientation (unlike some cheaper, TN panels), it does not signal the OS to rotate the display: One must adjust the display properties manually. This is, apparently, by design (it is also noted in the manual).
Pros: Excellent color gamut and viewing angle, thanks to the IPS panel. Accurate touch response. Durable, glass front panel. Excellent adjustments, plenty of inputs, automatic backlight adjustment is possible. The monitor itself is made by NEC, and modified by Elo to be a touchscreen.
Cons: There's a small bit of crud on mine, between the front touch surface and the LCD panel. It's up in a corner, and hard to spot, and really not a problem. I mention it only because a monitor at this price should be approaching flawless.