I have the HC version. I can't compare it to the previous non-HC 2407WFP, since I've never owned that monitor. The online reviews of the HC version have, overall, been good. Its strong point is the increased gamut. I can easily see colors now that I couldn't see on my "lesser" lcds. And the 24" widescreen helps on landscape format shots. It also pivots to portrait format.
If your questioning the need to spend big $$ for a truly high-end Lcd, then the 2407WFP-HC is a good choice. It is well beyond an "everyday" lcd in its image quality. It isn't perfect. It still has the infamous Dell tendency toward brightness. I have mine down to 50% and its fine. One could certainly find other flaws, but no deal-breakers for me. I've profiled it with an Eye-One, and the prints I'm getting from my 3800 are dead-on. Once I saw THAT happen, I suddenly couldn't remember why I needed to spend $1200 to $6000 on a monitor. Yet at some point I WILL spend big $$ on a better Lcd, only because of my relentless, passionate...obsessive drive for artistic and technical perfection.
As for the slamming you've seen on other websites, well, ahmm...have you ever seen a product yet that wasn't slammed somewhere on the internet? Slamming is what some people live for. Maybe they were nitpicking and comparing the HC to monitors costing many times more. Or maybe they got a bad panel. That can happen with any make or model. For the money, the 2407WFP-HC serves its purpose quite nicely.