I suspect that what ATI and NVIDIA have done with 'HDCP Ready' is made the boards with a slot to put the crypto-chip in. It will probably work, if you can find someone who will sell you the chip for a reasonable price. Still, it's very misleading advertising.
Not according to some recent articles here on FR. The current ATI and NVIDIA cards that claim to be HDCP are not, and can't be made so.