I found a fix for the HDMI cable problem and it's the weirdest fix because I was just fiddling with my monitor and going into every single sub-menu and changing settings to see what effect they may have on my monitor.
On my Samsung HD monitor, I go into the "Source List" menu and I choose "Edit"
The naming convention on that menu is :
PC : ----
DVI : ----
AV : ----
Component : ----
HDMI : ----
These coincide with all the different inputs available on the Samsung P2770HD.
I went to the HDMI : ---- selection and I was given a whole array of other choices; Camcorder,TV, IPTV, HD DVD, Blu-Ray, DVI, DVI PC, PC and a few others.
I changed it to PC and Viola! Perfect picture!
Now, my input reads "HDMI PC"; where as before it read only "HDMI" with no dashes. You only see the dashes if you go into the "Edit" menu for the Source list.
Thanks for the very funky menu Samsung! Not to mention the manual for the monitor that says nothing about this!
I think what this does is tells the monitor to expect the standard RGB (0-255) colors from the PC.
Anyways, this worked for me. I hope this may be of some use to another person in the near future.