I think the $199 Costco Model is the VA version, with HDR400 and Freesymc Premium Pro. So, bit better blacks, and brighter with at 400 nits. When gaming though VA is known for Black smearing in the background when you are turning. I just got that model and have been very impressed. I am not sure it is worth returning for the IPS version.
The IPS version will probably have better colors but with less black contrast
I had an LG VA panel that had less edge glow than this. I'm regretting not getting a better brand like an LG or one of the gigabyte monitors with a kvm built in. The one thing I like is that it's thin, very thin at the top so it appears very nice, but I've been disappointed with the quality of the image and edge glow.
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The IPS version will probably have better colors but with less black contrast