IPS computer monitors and IPS Televisions are better than LED as the IPS produces a better picture and light than LED.
The IPS means it's plane switching technology which produces better light and better picture and so IPS is better especially for monitors that you edit video or pictures on.
The IPS TV will give a better picture as well.
LED is still a good cheaper alternative though and LED still produces a good picture.
If you need a high quality computer monitor to edit video, pictures or do a lot of gaming on then the IPS computer monitor would be a good option over LED.
Higher cost monitors tend to have better picture and refresh rates as well which is good when gaming as most gaming is better when you have a good computer monitor that has the best refresh rate.
CRT monitors are also good for gaming on especially with those older games.