The 6870 will run eyefinity, I have run a setup at 6048x1080 with that card, just fine. Played all games crysis, JC2, BC3, L4D2 and so on with only one exception, that being GTA4 which is just a rubbish game in terms of design and code. Oh and Mirrors Edge only run a low quality due to the badly (on my part) worked hack to get it to work on 3 screens.
However I would not recommend it. If you plan to do some serious gaming and do so into the foreseeable future I would advise looking at the Saphire 2GB 6950 as purple stank mentioned above in your price range.
500W should barely suffice (and only on a quality power supply) depending on the rest of your system (benches seem to indicate at full load a power consumption of between 310-340W). Again however I would not recommend this. Get yourself a decent 700W PSU.