...<snip> color LCD display, maybe not as bright as OLED but still an active light display.</snip>
I can clarify some of the differences between AMOLED (active matrix organic light emitting diode) displays as are in the Cobalt, Uemis, and I believe Shearwater (Liquivision is also OLED, but I believe they are a passive matrix, as are the single color OLED's seen on some consumer products), and TFT displays like the Icon and most cellphones and consumer electronics. As in most things, there are pros and cons.
AMOLED displays are very bright and clear (except in direct sunlight) and have a brilliance that's hard to describe but easy to see. They are readable from any angle, because the light is emitted directly from the surface rather than passing through filters, as on a TFT display- think lots of little red, green, and blue LED lightbulbs turning on and off. The big advantage they have, though, is that they use much less power for the same display size and brightness. This is because only the pixels that are emitting consume power. On the downside, they are very expensive.
TFT displays have, by the nature of their technology, a narrower viewing angle- though this has improved a great deal. There are TFT displays now that look nearly as good as OLED displays, and they are much less expensive. They do, however require full screen backlighting, and therefore use more battery power. The screen on my phone goes dim then dark after a few minutes of inactivity- that's OK for a phone but not for a dive computer- at least when you're underwater!
The big difference is power consumption. On the Cobalt, we wanted the computer to go for a week long live aboard trip without needing recharging. That pretty much ruled out a TFT display. If you can live with a shorter battery life, the TFT display can provide a lower cost option.