Asus Xonar HDMI V1.3: Much awaited HDMI sound card?

[rikhav]

I am assuming this card is out in the market now as everything about is there on the Asus website now
Its a PCI-E card and there are 2 versions, normal and deluxe one

Have no experience with HDMI useage but as it have a video processor also and in HDMI sound and video data is transferred through one cable, how does one go about connecting the components
If we are using a AVR through which the display is connected then I guess its not more of an issue. But what if you have a LCD monitor which is HDMI capable? In that case one will need to connect the monitor and AVR indiviudally?
Am i right about this and is this possible with the card if it has only one HDMI out?