No you are not dreaming and yes it is possible as long as extended desktop is available and enabled. I have done it with an Asus motherboard with ATI Xpress 200 that allows for a second video card giving me 4 monitor capability.
My thoughts on this is to also use another program that will put banner ads, flashing messages and such on that third screen as well. The only problem I have is the singers want that big screen to show the lyrics as well as the on stage monitor (some of them get wandering feet when they sing

) which means either a 4th monitor (duplicating the lyrics screen) or a manual switch to change the 3rd monitor's input.
