Well, now I'm annoyed... I downloaded 10.7.3 (1966) from the beta channel, and while this has restored multi-monitor functionality and proper resolution, now I've lost my taskbar at the bottom because the screen doesn't properly fit! Same problem with 10.7.2.
I wasn't having any display problems at all before installing 1968 today (included a screenshot of that one as well, just for fun), and now I have no properly working access to my work environment.
I guess it's time to try and find a third party client so I can actually do any work before the problem is fixed and the new update passes app store review! 😒
10.7.3 (1966) beta, also 10.7.2 - taskbar off the bottom of the screen10.7.4 (1968) from the app store - single monitor, 1024x768... but at least I've got my taskbar!