I returned the ArcadeVGA PCI-E card to the seller as the manufacturer said it sounds like the card might be defective. We have about 5 or 6 emails sent back and forth trying to work on it.
At present I found a ATI HD-4550 on sale at Best Buy (new, unopened).

The new PC works great loading up into Windows7 64Bit Home Premium, and works fine with an old LCD monitor that I have using the HDMI port and a DVI-to-VGA converter dongle. Don't let the Experience points fool you, I have not run the tests on it yet. Also, to note, this is a full version of this software, not anything that is hacked. I had to buy a new copy of windows when I updated my wife's PC to the i5 processor, so I had this copy on hand.

The resolution on the DVI Port & LCD monitor is set to 800x600, also I set the standard VGA port to output to 640x 480.

Plugging in the Arcade monitor makes me loose video on both screens, unplugging the LCD does nothing to give me video on the arcade monitor as well. Using LogMeIn.com (instead of TightVNC) will allow me to make changes to the system while there is no video out to the monitors, but no matter what I do or change there is never any love from the ATI card to the arcade monitor.