RandR 1.2 currently only works on a single X screen (a real one, not a Xinerama screen). You can get exactly the same "fakerama" behavior with the nvidia driver today with TwinView. To span multiple GPUs, you still need the real Xinerama extension, which still disables RandR. See hw/xfree86/modes/xf86RandR12.c in the xserver tree:
Code:
Bool
xf86RandR12Init (ScreenPtr pScreen)
{
rrScrPrivPtr rp;
XF86RandRInfoPtr randrp;
#ifdef PANORAMIX
/* XXX disable RandR when using Xinerama */
if (!noPanoramiXExtension)
return TRUE;
#endif
...
(PanoramiX is the old historical name for Xinerama).
RandR 1.2 support in the nvidia driver is in the works, but don't expect it to magically make RandR + real Xinerama work.