Hopefully once I have some spare time I'll compile the guide for the HD 5000+ cards. The process is indeed much more straightforward than with legacy cards. The one thing you need to consider is that starting from the 6000 generation, all cards I've seen only have one port supporting analog. You have to indentify this port first. If the card has one VGA output, then the answer is obvious. If it has a couple DVIs, one of them will be DVI-I (check the hole pattern) but some times both DVIs show the typical DVI-I hole pattern and only one actually is, beware this.
According to this walk-through, you need a graphics card with 2 VGA ports to make version 2.0 work with the HD 4350
Not at all, that guide was just an attempt to provide a bullet-proof step-by-step method that people could reproduce at home. During the first week after CRT Emudriver 2.0 release, first testers were having a hell of a time configuring their monitors and I felt the need to post that guide even if only to say "you see guys how it is working here." There's something that makes the installation of pre-HD 5000 cards somewhat complicated: the fact that Windows can't identify arcade monitors properly. However being able to emulate an EDID for the HD 5000+ cards makes things much easier. Basically, you install things with a PC monitor connected to the target analog output, and once you enable EDID emulation, your PC monitor gets out of range and you can plug the arcade monitor to that output and that's the end of the story.