I'm glad you mentioned that, because it's one of the things that was alarming me . I've seen the screen prefs applet report 50 hz. alone, 50hz with 51 hz. as an alternate, 50hz, 51hz., and 56hz, and once it displayed 99hz.
These were observed during a long session tonight at the end of which I'm happy to say the 2405 appears to be working correctly. I tried a number of routes, but kept getting funky signal timing sent to the panel. When it received signal it would display "Auto Adjust in Progress" for a few seconds, and I knew it was trying to compensate.
Let's see. I tried using the validated modes from xorg.0.log. I tried using the modelines produced by gtf. I tried using modelines I found on the web. I ran into a lot of discussion about this problem, which is apparently a confirmed issue with Ubuntu (not X) and wide-screen LCDs (maybe any widescreen). Eventually I found a blog by a guy with a 2405 who got his working in 1920 x 1200, and just copied that one modeline over to xorg.conf.
I also had trouble with the nvidia-settings applet. Several times after the screen came up borked I ran it and applied "auto" refresh timings and it cleared things up. But of course this wasn't sticky. I saved the settings to xorg.conf, but didn't realize that the settings applet wasn't running as root. It didn't complain, it just didn't write the file. I used gksudo to run it as root and saved the settings, and it did write the file... and screwed everything up. Had to revert to a backup.
Kind of an adventure, but it seems to be working now. I gave up on using nvidia-settings and just put a Gamma option in my Monitor section of xorg.conf. That was the only thing I wanted to change after res and refresh anyway,