I can't speak specifically for photo editing, but when I bought my monitor (2 months ago) I looked at the following things:
- Size and weight. My current monitor is 30", my old was 22", but my new one weighs as much as my old one.
- Pixel count. Usually scales with size pretty linearly, but if you see a cheap, large monitor, take a look at the native resolution. They could just have a larger pixel size.
- Inputs and ports. For some people, HDMI (I think) is an important input so that they can also use it for TV signals. My monitor has 2 USB 2.0 and 2 FW400 ports which I find very useful.
- Contrast ratio and brightness. Usually expressed as 1:#### or ####:1 for contrast, and brightness in cd/m^2 (candles per square meter). These numbers don't mean much to me, just bigger is better. So try to find the specs of your current monitor and use that as a comparison when shopping.