Wabash, it looks like you never got an answer to this!

yes, your computer should be able to handle the TV so long as your video card is compatible with its resolution.  If it has taller resolution, you can fit more things on the screen like your emails.

Yes, running bigger resolution may indeed reduce FPS, as it has to write more pixels in each frame.  

have you thought maybe about TripleHead2Go instead?  This will take 3 identical monitors and add them to your system as 1 really wide monitor, and it's great for FS.  It's on my wishlist!

Search youtube, lots and lots of videos of FS and Racing sims on TH2G setup.