Actually it's not a bad idea, I was in an Apple Store at The Grove in Los Angeles, the salesperson told me they had a few refurbished 20" Cinema displays.
When I asked about the pixel issue he offered to take them out of the box and plug it in so I could see if there were any, he said they can do this with refurbished displays but not with unopened box displays.
So you can see if there are any bad pixels and save about 13% also, I believe I was quoted $1149 as the price for the refurbished 20"isplay.