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I've been using the Matrox TripleHead2Go since June on my laptop, and have been very happy with it - reasonable cost and performs as adverstised right out of the box. I have it connected to an HP laptop with 17" screen, running three 19" external Dell monitors.
Yes, I have one. It is dark, but you get the point. But since then, I migrated over to my desktop that had a dual 128mb graphics card. So this way, I connected 1 screen into video card input A, and then the other 3 screens >> triplehead2go >> video card input B. A total of 4 monitors. Actually, 6 is possible. 3 on one TripleHead, and 3 on another. My laptop screen resolution was 1400x900, which was horizontally smaller than the 1280x1024 of the other 3 screens. So stretching an application window over the laptop screen was awkward. And NO, it won't fry your laptop or desktop. All of the processing is handled in the matrox external box. All it does is split 1 really big monitor into 3. Windows still sees just one really big second monitor (3840x1024) I would also recommend www.realtimesoft.com