TN = Twisted Nematic. Most of the LCDs on the market today are TN panels (as they are very cheap). TN panels are characterised by low input lag and fast response times and are hence, very popular with hardcore gamers. But they have very bad viewing angles and inferior color reproduction. A premium panel, on the other hand, is a very broad term and can represent anything; from a high quality TN panel to an IPS or PVA/MVA one. IPS is the highest quality panel, it gives the best color reproduction, black depths and best viewing angles; but at the expense of high input lag (in some cases as high as 60ms) and slow response time. PVA/MVA are a compromise between TN and IPS, combining good color reproduction (but not as good as IPS) and fast response times (again, not as fast as TN). PVA is similar to MVA but has higher contrast ratio. Now Dell has come out with a new "premium" panel, the 2209WA, which is an "eIPS" (enhanced IPS). It promises to give the image fidelity close to that of an IPS panel, but with lower input lag and faster response time and of course, lower cost. All this is a very general answer to your question, you will have to search on the internet for more information about all these panel types.