I personally can't imagine having that laptop without a 1920x1200 display, which is what the RGB-LED-backlit display gives you.
But that's a "wide-gamut" display, and you may not be happy with the distorted, neon-like, over-saturated colors which that display shows when viewing images in NON-color-managed applications:
http://forums.lenovo.com/t5/W-Series-Th ... 973#M16453
http://forum.thinkpads.com/viewtopic.ph ... 56#p634856
That display is primarily tailored to professional photographers and pre-press professionals, whose workflow consists of using color-managed applications. The applications that ARE color-managed are the Firefox browser (other web browsers are NOT color-managed as far as I know), Photoshop, and presumably most professional graphics programs, the image viewer that comes with Windows 7, and I think the video player that comes with Windows 7. You can also get a color-management plug-in for the free Irfanview image viewer program. Note that your chances of getting accurate colors from the display are lessened if your W701 doesn't have the optional built-in color calibrator.
Anyway, perhaps some W701 users having that display can weigh in here. Here are some specs:
From Thinkwiki:
http://www.thinkwiki.org/wiki/Category:W701
ThinkPad W701
Standard Features
One of the following TFT displays:
17.0" 1440x900 (WXGA+) Anti-Glare Display with LED Backlight
17.0" 1920x1200 (WUXGA) Anti-Glare Display with RGB LED Backlight
It's a "wide-gamut" (i.e. 100% of NTSC gamut, according to Lenovo) display:
http://www.lenovo.com/shop/americas/con ... asheet.pdf
And you may find these messages to be informative (plus the overall thread containing them may help you get better color from the display, assuming you have the optional color calibrator on your W701):
http://forum.thinkpads.com/viewtopic.ph ... 34#p669834
http://forum.thinkpads.com/viewtopic.ph ... 33#p669933
If you install the display yourself, be careful with any ribbon cables and connectors, as they can be fairly fragile. In any case, good luck!