Basically any HD series card supports HD out, so it should play Blu-Ray. Correct me if I'm wrong, but my HD4550 can do that too.
As for two monitors at max resolution, it really depends on what you are doing. An X1300PRO can drive a 46" LCD TV at 1920x1080 no problem. That's if we're talking about watching DVD's and the like. As for gaming and HD movies, it can't do that.
Since you don't need games, then an entry level HD5xxx card like the 5450 or 5550 will suit you.