At 27" you definitely want to be running at 2560x1440. Anything lower and you'd visibly be able to see individual pixels (at regular PC gaming viewing distance).
PPI (Pixels Per Inch, not mis-sold premiums) is what's important. You can calculate your PPI using this site:
PPI Calculator
2560x1440 @ 27" = 109 PPI
1920x1080 @ 27" = 82 PPI
That's a pretty big difference.
In terms of Hz, I've never had anything above a 60Hz monitor so I can't really comment. But to be honest, if Arma is your main game, you're never going to be taking advantage of 120Hz+ in MP anyway (no matter how many GPUs you have).
I use this monitor:
Asus PB278QR
And play Arma (+all other games) at 1440p. It's
beautiful. It's spoiled 1080p for me, I can never go back.
With a GTX 970 (single card) @ 1440p, Arma runs with high frames. To give you an idea - in SP the average FPS is probably ~50+, with the max being ~60+. MP is a different story since it's bottlenecked by the server.
In my opinion, 1440p is the perfect middle-point between 1080p and 4k. 1080p @ 27" is starting look a bit outdated, while 4k at decent frames is currently out of reach even for the best GPUs.
If you really want higher Hz, you could always go for the Asus ROG Swift (although it's a little pricey). It's 1440p @ 144Hz:
Asus ROG SWIFT PG278Q
Only downside of the Swift is that it doesn't use an IPS panel, but if you don't really care too much about having perfect colour reproduction then it's certainly a good choice. G-Sync is also a really nice feature of the Swift.
Also, the extra desktop space that you gain (from 1440p) is really nice. Browsing websites and editing photos is much nicer, you just have so much more room

So to sum up:
- Yes I do have one (I think Alexander also has one as well).
- Arma gameplay experience at 1440p is fantastic.
- Yes you can easily run off of one GPU (I use a GTX 970).
- 60Hz will not be an issue for Arma, but you may notice a difference for other games that you can run at >60fps. You might also want to wait for the
MG279Q (27" 1440p IPS @ 120Hz).
- Extra desktop screen space gained is worth it
Edit: Alex beat me to it