No dead pixels. I haven't used Dell monitors, but I have used the high-end HP business-class monitors (I used to work for HP until just recently) and this one looks as good. And I'm somewhat picky, but not uber-picky. FWIW, this panel uses S-PVA instead of the TN that's more common in cheaper panels.
TN has better response times, but better color reproduction (supposedly) and better viewing angles. I believe the Dells use S-PVA also (or some variant of VA).
For a quick rundown on the differences in LCD panel types:
http://www.hardforum.com/showthread.php?t=1039222