So... Tuesday morning I'm typing away at my computer and I hear a sudden pop, my monitor goes black, and a few seconds later I smell smoke, like a capgun.
Is that bad?
OK, I know it's bad, but my question is, is it even something I can take to a repair guy and get fixed, or am I SOL here? It is used to be a really nice monitor, and I'd hate for it to be gone for good... (sniff).

Yes, it sounds like it is plasticated toast. Better to buy a new one that have it repaired as it may cost you as much and still have a thing with older parts.