Two more displays have been tested: Panasonic TC-L32U22 and LG 32LD450. Here are the lag measurements.
Panasonic TC-L32U22 = 2-3 frames of lag (matches with what others have posted)
LG 32LD450 = 1-2 frames of lag
Both were tested at 1920x1080p/60 resolution.
Looks like I'm finally at the end of my journey. Of the seven 32" 1080p displays I've tested, looks like I may be going with the LG 32LD450. It has the lowest input lag at 1-2 frames and has an S-IPS display. Note: I have no idea what the differences are between S-IPS, IPS Alpha, or other IPS variants. But to my untrained eyes, they prefer S-IPS displays
Here are some additional notes...
1) The Panasonic TC-L32U22 doesn't have a "game mode", so I used "normal mode" instead. I also disabled every processing feature I could find.
2) The panel sticker inside the Panasonic TC-L32U22 reads the following:
IPS Alpha Technology Malaysia Sdn.Bhd.
10052K A C62708
Rev B Made in Malaysia
3) The panel sticker inside the LG 32LD450 reads the following:
[LG Logo] LG Display