To see the difference resolution makes, get the smallest CRT monitor you can find that's capable of 1024 x 768. Run whatever front end you plan to use at 1024 x 768, 800 x 600, and 640 x 480. It's surprising how much difference it makes.
Another factor is brightness. Some monitors are just plain dim.
If you can get to a Jaycar store, see if you can look at one of these before you buy it, or at least ask what brand they are and then look for comments.
Maybe that monitor is good. But you might also take a look at this Shark sold by Goodeals18 for USD$168. I know that's more money, and I'm not saying I outright recommend it, simply because I haven't done any feedback research. But it's new, max resolution of 1024 x 768 (native -- crispest -- resolution is probably 800 x 600), and some MP3Car members have bought them. You could MP3Car for feedback on Shark and Gooddeals18 (you can also find Gooddeals18 on eBay, but the prices seem a little higher, probably to account for the eBay fees).
The company is in the USA, and I haven't checked on shipping cost to Oz. If your research shows Shark to be okay, maybe you can find Shark monitors there.