Apple finally released the long awaited next edition to it's Cinema Display line last week.
They call it the LED Cinema Display.  It's a 24" display that shares its panel with the current iMacs, with the addition of an LED back light.  LED lasts longer, is mercury-free, and lights up instantly when powered on. 

Pros:
1-  Beautiful LED back lit display is their best yet, with more accurate color
2-  Attractive styling matches new Macbook and iMac designs
3-  Acts like a mini dock for the new Macbooks, with a mag safe connector and DisplayPort connector, and 3 USB 2 ports.  No need for your Macbook power supply while at your desk!
4-  Built-in iSight camera and mic for easy video conferencingm as well as speakers. 

Cons:
1-  Glossy screen reflects light like a mirror, tough to use in some lighting situations
2-  DisplayPort connector is not DVI or VGA compatible until an adaptor comes along.  You can't use this incredible screen with your Mac Pro, iMac, or previous gen Macbooks and Macbook Pros.  Yet...

So, what is DisplayPort?  Essentially it is a direct competitor to HDMI, and not compatible.  Monitors and video cards are coming along with this port, but who knows how well it will catch on?  Anyone remember the ADC, Apple Display Connector?  I guess that's not a fair comparison, since DisplayPort is supported by many manufacturers beyond Apple...
Here's some really geeky info on Wikipedia.