Welllllll . . .
In the Windows power options, you should probably set the monitors to sleep after X inactivity. If you turn the monitor off before X, the OS will still engage the sleep.
The issue is actually your GPU idle power. The newer the card, most likely the lower the GPU idle power -- 20w and up is a good place to start for an estimate.
The new AMD Radeon HD7xxx cards have an advanced idle function that drops idle power consumption significantly further, and the GPU is completely shut down when the monitor is switched off.
It's call zero-core power.