It will support full screen playback as long as you have 2 cards, or a good dual head. DVI or VGA.
It's not a perfect solution as you may have some scaling issues depending on the footage. All you need to do is select the second screen as an "extended monitor" and select it in the playback settings.
You will also need a beefy GFX card on the second monitor side for smooth HQ playback, plan on $250.00 and up in the ATI/Nvidia series.
Of course , as Jeff said, SDI is the way to go, but it certainly is very expensive.
Vince Becquiot
Kaptis Studios
San Francisco - Bay Area