will this stand hold 2 20" monitors? and are the arms articulating or fixed?

Yes this stand will hold 2 20" monitors or even a little larger monitors. The attachments to the monitor can be adjusted back and forth very easily. Highly recommend these monitor stands we have about 25 of them in our office and they are the only ones I'll buy.

Does this hold 27" Monitors???

No, i have dual 24" monitors and it does not. however they might fit vertically if you max out the reach of the stand...

Questions & Answers: Ergotron 33-322-200 DS100 Dual-Monitor Desk Stand and Mount - Horizontal

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Ergotron 33-322-200 DS100 Dual-Monitor Desk Stand and Mount - Horizontal

Conserve desk space by suspending two flat panels on a single base with this tough dual-monitor stand
DS100’s modular design allows customization to fit your needs
View multiple monitors simultaneously with patented Paraview Technology
Position monitors for maximum productivity
Cable management system organizes and routes cables
Low-profile base saves desk space
Accommodates various LCD sizes; slide displays into place so screen edges align
Durable aluminum and steel construction creates an extremely stable platform
Maximum outside width of display is 23-1/4" (59 cm)
Weight Capacity: 31 lbs (14 kg) per monitor; 62 lbs (28 kg) total
Mounting Standards: VESA FDMI, MIS-D, 75/100, C (hole pattern: 100 x 100 mm & 75 x 75 mm)
Meets UL Specification 1678 Tip Test
Height-adjustable bow
Includes base, 14" pole, Paraview bow, two (2) sliding brackets

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