Ok, here's my experience:(Posted on HardForum)
Got the DP>VGA adapter from monoprice. When I first hooked it up it detected the monitor however it gave me a black screen at all resolutions.
Went ahead and flashed my card with the latest bios (mine is XFX, used sapphire bios, no problems.)
At that point I got the DP monitor to work at 1280x720, nothing higher though.
Any time I tried to set up an eyefinity group it would error out and get a DP error. I'm assuming that is because it was trying to set the DP monitor to its maximum resolution.
I just ordered the Dell adapter for $75, those people that got the DP>VGA working are lucky SOBs.
When the active adapter gets here I will test and see if that bios update fixes the blinking issue.