Will my LCD monitor be good enough for video work? (Asus VH242H)
 

I realize this is not an ISP monitor, but will it work? I have calibrated the monitor with a x-rite Colormunki/Display. Do I need to upgrade?

IPS monitor, not ISP. ;)

You can often calibrate a non-IPS monitor to acceptable tolerance for personal projects, but understand you're not seeing the full depth of highlights and shadows. You may be surprised when viewing the content on a TV later -- sometimes pleasantly, sometimes not.

Our portable setup uses a non-IPS panel because laptops don't have IPS panels yet. However it gets plugged into a calibrated CRT (second monitor) when on-site. Both the CRT and the LCD are calibrated, but there's an obvious change in depth viewed through the CRT. You're simply missing out on the full image quality by using a cheaper consumer-grade panel.

But again, that's fine for personal use.

The Sony S series 15.5" laptop has one of the best botebook screens I've ever seen:
~ $825 from Amazon: http://www.amazon.com/gp/product/B00...SIN=B005JY9LLQ

... but even it's not IPS quality yet.

The Viewsonic VP2365-LED is ideal for video work, without breaking the bank.
~ $315 from Amazon: http://www.amazon.com/gp/product/B00...SIN=B0053YKE72

I'd put the monitor at a lower priority compared against the VCR, TBC or capture card (or DVD recorder).

What you have is workable for personal use, even if not optimal to professional standards. :2cents: