DisplayPort is the newish replacement to
DVI &
HDMI found on most of the recent Macs and now on some PCs. However, DisplayPort isn't really considered a replacement to the popular HDMI interface that is on nearly every HD consumer electronic device (HD televisions, Blu-ray players, HD sat/cable boxes, game consoles, etc.)
To answer the OP's question...
Yes, it will it support it. The computer should support multiple monitors with an extended display on both a VGA compatible monitor on its VGA interface and a DisplayPort compatible monitor (as well as a VGA, DVI, or HDMI monitor with an appropriate converter) on its DisplayPort interface. If the graphics chip supports it, you can even get multiple displays from the single DisplayPort interface that is attached to a special breakout box.
With the use of an adapter, the DisplayPort output can actually be changed to support a VGA, DVI, or HDMI interface. Most adapters can be had
for about $15.
The multidisplay support on a DisplayPort connection comes into play when you set a very high resolution and use a multi adapter such as this
DisplayPort to Dual HDMI adapter or this
DisplayPort to Triple DVI adapter. My understanding is that this treats your multiple monitors as ONE very wide monitor; instead of the typical multiple independent monitors you might get with a multihead setup. This means you can't have stuff like different resolutions or get program windows to snap to certain displays. If you were to hit maximize it would maximize across all of your screens and not just the one screen you dragged the program window to. Probably better for use with a single app/game with a very wide display or with digital signage rather than extended display use with multiple programs on your desktop/laptop.
Now it looks like DisplayPort may get pushed out in favor of
Thunderbolt. The Thunderbolt interface on the computer is backwards compatible with a DisplayPort display device or adapter but a Thunderbolt device will not work with a Displayport interface on your computer.