I think it depends on how you are connecting the monitor to your pc.
For example, if you are using VGA->Scart (European RGB) or other form of RGB input, then you can use powerstrip to control the image.
If you are using Tv-out from your gfx card, then powerstrip will not be so helpful, as the graphics card is internally converting the VGA image to a PAL/NTSC/S-video image to display - which often has overscan. If you are using TV-out I believe there are utilities that let you control the overscan options. (I think ATI radeons have overscan adjust in the control panel).