One downside to the new ATI adapters is that they suffer from 'overscan'. You can buy a VGA to component adapter that will work on any video card (costs around $100) - combine that with Powerstrip and you're in business. That's what I did - I've posted this before - but here's a really crappy picture of my HDTV acquarium. And yes - the widescreen version works perfect on the 16:9 ratio TV.
FYI - the picture above is a screen capture from a video tape. It does not do justice to the actual display on the TV (which is cristal clear).