MonMothma, I believe you have solved it.
The S-video input must be overamped or something like this. I have no read in several places around the net that S-video and Composite signals are brighter than RGB. This may also be contributing to this.
I left this monitor on for about 3 hours in advancemame, and even though I have to set contrast to maximum and brightness up about half way it does look really really good. Still beats 99% of arcade monitors I've seen.
One thing that may be tricking me is that I sit close to the screen, like 3 feet away. When I set back on the couch and look the image looks much more correct to me.
EDIT: Problem Solved!

I went back to my original problem with this monitor. The screen was too dark when I got it so I took the back off and turned up the screen setting.
When I did this I used a Terminator 2 dvd with a THX calibration program.
But, I didn't know that the S-video input would be much brighter than the RGB.
So THIS TIME I used my computer and Nokia monitor test to calibrate. I used the black and white contrast bars option to tune it.
I turned up the brightness til retrace lines appeared in the image, then back the knob back off my just a couple of millimeters or so. It was extremely sensitive.
I did all this while making sure that my contrast and brightness were at their default settings.
Once I had achieve the most brightness I could achieve without lines appearing, I attempted to adjust the image. All of a sudden dingy white became white white!
I exited out to the desktop and it looked like a desktop is supposed to look. I fired up Super Street Fighter (the game I know most what it should look like) and it looked better than I've ever seen it.
This monitor has color and contrast the equal of my little PVM.
Now if I could just get that blue convergence right.....
