Different monitor/TV calibration with an ATi card

[JackieChanIsGOD]

I'm going to be hooking up my computer to a 34" widescreen Toshiba HDTV...
I have an ATi 8500LE with S-Video out...
I want to know if it is possible to have the monitor hooked up at the same time... and if i can have different settings for each... like have my monitor running on my default 1152x864 and my TV running on 640x400... and is it possible for me to have different desktops?

Thanks...