cSurfr, NYCFarmboy is right, the 20.1 Formac is better than the 20" Cinema. For more details read the thread I started last month 'Monitor Hell...' I had them both on my desk for a month. I've used all of Formac's displays and all of Apple's and Apple's 'reputation' as the producer of the best panels is not really deserved. There are however people on this board who would buy a turd if it had an Apple logo on it.
Like you I originally was going for the 1740 but chickened out over dead pixels, which I've had on other displays. For what it's worth Formac have a two dead pixels or less guarantee on this display, which is better than Apple's we don't care, go away policy.
The 1740 is a nice display but it is quite old in terms of LCD quality. Niether the 17.4 or the 20.1 is as sharp as the 20" Cinema, although the 20.1 is superior in all other technical respects. The rich colour you refer to is partly due to the contrast ratio which is lower on the Apple. You can mimic the Apple display by changing the colour gamut on the Formac. The 1740 however is not inferior in sharpness and (crucially) pixel refresh rate to the Apple 17" which is very long in the tooth technically. It is also as you point out cheaper and almost an inch bigger, so maybe it is a no-brainer...
I can't concur with Farmboy's comments about Formac's customer service, but I live in the UK, so maybe it's better here. If it is inadequate I don't think it's because they're German! German's don't look down on people any more than Americans do or Swedes or Africans. At the end of the day all companies are the same, they just want your money.