I do not know this for a fact, but the Displayport 1.2 version was approved at the end of 2009, so I would be very surprised if your 'black' was 1.1. It could even be 1.3, since that was approved 15 Sept 2014. Further, my 3 year old GTX 680 has 1.2 AFAIK.
I found this piece of advice on a different forum - specific to using Samsung HDTV with HDMI to PC:
The problem is with the type of signal being sent from/to the monitor. When your input is named/set to PC it sends the signal at a different frequency/power level. This will effect the quality of the image. I had the same exact issue when I switched over.
My resolution was to change the input/name to PC and turn overscan all the way up. My monitor looks perfect now. Just for reference I have a Samsung 2333hd and by setting the "hdmi" input value to "pc" the "blurriness" issue was immediately fixed. Turning overscan all the way up (0%) fixed the border issue.
To state this differently so that future readers fully understand: If you are getting over-exposed, blurry text, generally bad images from your PC to your HDTV, go into the settings for sources and literally CHANGE THE NAME TO "PC" on that source, or a PC equivalent, and the TV will recognize this and change the way it processes the signal. Boom. Perfect image. Do not believe people that say TV's are not as good as PC Monitors - there are SOME things they are better at (sometimes refresh rate, black to black and grey to grey stuff, etc.) but having a terrible picture is not one of the weaknesses of a TV.
Hope that helps. I know how annoying it is to search and search forever and not find a resolution. At least this may help someone searching down the road!
I believe you nailed it Ryan. I decided to run a monitor calibration and my settings were really out of whack. I had the brightness, vibrance and gamma all cranked up and the contrast down so my darks were brightened up too much exposing the cloud gradients I had no business seeing.