If you connect the monitor via HDMI and the audio signal over HDMI is fed, so that you do not need audio cables.
The speakers in the monitor, however, are very poor, no bass, poor quality, but there are at least monitor speakers, since one should not expect much anyway (especially in the thin monitors nowadays).
I had to test my Playstation 3 is connected, the picture looks good, no streaks.
Windows 7 recognizes the monitor without a manual driver installation (nowadays actually nothing special).
Despite the negative point at the speakers still highly recommended (many will probably have anyway separate speakers).