Horizontal crawling lines on screen?

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Just three hours ago, my phone was working fine. It's been on the charger for a little while, and I picked it up to send a text and noticed something odd.

The whole screen has a ribbed effect with dark/light bands traveling up/down it, much like an old CRT. It also seems to be a bit dimmer than usual on full brightness. This seems to also happen on the boot screens, so it's not the OS I wouldn't think (WP7, I've rebooted several times). Is my LCD failing? The touchscreen works as normal...

Yeah, I think your LCD is dying.