I like to sum up this debate like this:
With multiple monitors, you're confined into smaller, "hard-coded" boxes that can't be changed. With a single large screen you have much more flexibility.
I've also found that such extra complexity impacts productivity negatively. It's an unnecessary distraction trying to communicate such complicated layouts.
I think for programming the 2560/1600 = 1920/1200 = 1.6 or the 3000/2000 = 1.5 ratio is a reasonable middle ground. Unfortunately it's not a common ratio among big but cheap monitors...
The extra head movement required to look into the corners of a 27" or even a 25" vertical monitor definitely puts a little strain on my neck compared to a 25" horizontal one, but with frequent posture changes and breaks, while a bit tiring, I don't feel it caused any permanent damage.
At least I hope it's not the reason why the middle of my upper back feels like falling apart any minute... Maybe that thai massage, when a lady was walking on my back for half an hour was a bit too much? :D