3 projectors is definitely possible because of the DIRT 2 projector video:
http://www.youtube.com/watch?v=teE5wqT2DNU Granted, they could have had a very expensive solution, but why show off a tech in a way that is impossible for normal consumers...
I think after a week or so of everyone getting these cards and ATI seeing the community response, we'll have a lot more info.
(hello, my first post here btw! I think eyefinity is a very exciting technology, and can't wait to get 4 wide HD projectors in 2x2 config for a cheap 4k setup!)
We're all aware of the example of the simulator projection setup, but they had to of used expensive active converters to achieve it. There is no way to just directly plug in a projector without having to foot at least $100 more per projector to achieve it.
I would suggest picking up Sol7 Home Simulator edition to do the edge blending with. ImmersiView needs to know that they should update thier capability for the non-commercial version to include options for edge blending over 3 projectors though.
I know I shouldn't be this frustrated about the issue, because really the option simply didn't exist before to run 4 or more projectors. And you are very much correct, 4k HDTV before this was released was something you needed $100,000 to achieve.