You should be linking the tiff image - http://www.spronkey.com/sdc-gradients.tif
That's a very fascinating chart... handy for seeing how your panel does. I'll have to try it on my other panels as well.
For my Dell, there is no banding in the blue or green. The red diagonal squares show some very minor banding. It's not too obvious unless you get close to the monitor, and even then, it's not like the example banding in the legend at the bottom. Also, it's only on the diagonal images that you see any at all.
The png and tiff are the same, but the tiff is obviously higher quality. Of course, it's also twice the size.
EDIT: Oh, one thing I did check - the 2407 has different image modes you can select (desktop, multimedia, and gaming). Any mode other than desktop bands like a mo-fo. Maybe some of the people reporting banding issues simply set the mode to gaming thinking that would make the monitor better with games without trying the other modes. I don't know what the differences are TECHNICALLY between the different modes, but if you don't want banding, use desktop image mode with the 2407.
Another thought occured to me - the 2407 is a full inch larger physically, so fonts should be just a bit larger than on the Philips monitor.