As shiyan mentioned, the refresh rate spec that a crt goes by (ie 60hz) has no correlation to the 60hz specified on lcds. Reason being is that lcds pixels are always on, or off for that matter, displaying colors. They are never refreshed or rescanned as they are on crts.
Next thing regarding the response time of 25ms, me personally, id say no, its too slow. Let me elaborate on this, it is a known fact that most manufacturers arent very truthfull reporting accurate specifications dealing with contrast and response time. Furthermore, its difficult to test these specs as the guidelines themselves are not defined all too clearly. For example, is the response time from black to white to black? If so, then that result will definately vary if other colors are chosen, and so on, etc. Some other manufacturers on the other hand may be conservative with there specs, and the monitor may seem to perform better than it looks on paper. There are plenty of reviews on the net when the author would state that when putting two different monitors next to each other, ie hypothetically a 25ms and 35ms monitor, occasionally the supposed slower monitor would blur less. This just goes to show how unaccurate these specs are.
So what I am aiming at, is either before purchasing the monitor, read a lot of user comments or reviews on it from credible sources. Otherwise go to a store, and spend sometime playing games on it.
What I can tell you for SURE is that ghosting *will* be prevalent on 25ms monitor, no doubt about that. Question is, depending on your expecations, you will decide how much is too much. Ive got a 16ms 17" panel, the one produced by AU Opt... something or other,(fyi there are a lot of companies using this exact panel) and in windows its clear that I dont have the response time of a crt. Say when moving windows around, the text inside the window blurs a bit but it is definately still legible, other than that, i really have to try to look out for the blur to notice it. Ive done the same on some slower response time lcds, and when moving windows around, or for example scrolling a internet page in internet explorer, you cant make any sense of the text. In games, there might have been perhaps just a couple times that I actually noticed even any blur, so thats a real good thing. I have friends who own nice sony and other crt tubes and they really enjoy playing games on my lcd.
Hope this helps you out.
P.s. I KNOW there will be others posting that they have a 25ms lcd and they can play games without a problem. All I can say is, when you get a chance, grab a peak at 16ms, or 20ms lcds, especially those that will be coming out very soon and THEN tell me if you still cant tell a difference