Don't overlook the possibility that the problem may lie in the graphics card. I know a bit about the 24" Early 2008 iMac (I have one), and from my reading it seems that the graphics cards are the most frequent problem -- both the ATI Radeon 2600 HD and the Nvidia card (though my impression is that the latter fail more often and/or sooner). I've read about Gfx card problems that were described as "pinstripes," as well as other display anomalies.
What screen size is your 2008?
I have an image from the service manual for the 24" Early 2008 that shows the part numbers for the LCD panels and graphics cards; if that would be useful to you let me know. You might be able to find out the part numbers for the 2007. I would expect them to match if they are the exact same part.