New Monitor Causing Kernel Panics

I'm having a really odd problem. I've got a Mac Pro that's about a year old. It has the nVidia 8800 GT card. All this time, it's been humming along fine with a ViewSonic 21" CRT monitor. I just got an Acer P223W monitor. LCD, HD, DVI, the whole shebang.

If the monitor is powered down, when I start the machine up, I will get a kernel panic shortly after hearing the chime and seeing the Apple logo. I then have to force it off, switch the output port on the card, then everything starts up again. This is reproducible every time. I basically have to leave the monitor in standby mode.

No problems otherwise - when the Mac Pro is on, I can turn the monitor off. It'll be fine as long as I turn it back on at shutdown and keep the monitor on. I have no problems waking from sleep. This is really making me scratch my head.

Any ideas?

When it restarts, there's a message about the OS X unexpectedly crashing and do I want to report it to Apple. Here's the log from that:

Tue Feb 3 22:47:11 2009
Machine-check capabilities (cpu 4) 0x0000000000000806:
family: 6 model: 23 stepping: 6 microcode: 1547
Intel(R) Xeon(R) CPU E5462 @ 2.80GHz
6 error-reporting banks
threshold-based error status present
Machine-check status 0x0000000000000005:
restart IP valid
machine-check in progress
MCA error-reporting registers:
IA32 MC0STATUS(0x401): 0xb200004000000800 valid
MCA error code: 0x0800
Model specific error code: 0x0000
Other information: 0x00000040
Threshold-based status: No tracking
Status bits:
Processor context corrupt
Error enabled
Uncorrected error
IA32 MC1STATUS(0x405): 0x0000000000000000 invalid
IA32 MC2STATUS(0x409): 0x0000000000000000 invalid
IA32 MC3STATUS(0x40d): 0x0020000000000000 invalid
IA32 MC4STATUS(0x411): 0x0000000000000011 invalid
IA32 MC5STATUS(0x415): 0xb200221024080400 valid

There is nothing in Console about this.