I know this monitor can be displayed at 120 HZ in stereo mode, but could I use it to display things in 2d at 120HZ? Would this damage the monitor or graphics cards in anyways?(I have 2 NVIDIA 9800GTX's) Currently running windows XP.
Yes it could be, but you will need to populate both the VGA inputs on the Monitor to have Stereo Mode on.... That means using 2 VGA cables coming from the 9800GTXs into the Monitor and yes, it will work at 120Hz.
No, it will not damage either the GPU or the Monitor in anyways since both are perfectly capable of those frequencies.