You know what I reckon it is your power supply, I was using a Hiper 630w and my 6870 wouldnt work at all in fact the PC would not even boot! Since you have a 500w and not a major brand I think you should seriously try to get a better power supply, I got one today as I just recently purchased a 6870 but my card turned out to be faulty
The website says the minimum power supply should be 500w, but considering the kind of setup people have these days with that kind of graphics card I would say 600w or higher of a well known reliable brand like OCZ or Corsair.
Aha, thanks for that, atleast that kind of proves my card isn't fully faulty, since your computer wouldn't even boot.
I will invest with a 750w psu after I finish this windows install and test it with newest drivers again