One of the main issues with these monitors is Response time.
I believe that Hp monitor has a response time of around 5ms which is okay but compare to a t.v. its pretty bad.
I think that even do your game console can display crisp words the actual image is being blurred out because of your response time being to slow.
Flat screens have a fast Response time keeping up with any console or blue-ray system.
However your game console requires a faster response time to make the images crisp. (faster than the HP monitor can provide).
even if the console provides with 1080p and monitor can support it. It needs faster response time.
However you can't adjust response time. (Ghz)
But that is my opinion.