Bah! That's for the weak and timid!
I've installed ATI'd proprietary drivers successfully on two out of two computers so far. Hardly a representative sample I know, but it should be taken as a sign of hope.
There are instructions for installing the drivers on the ATI website, but essentially, you install the rpm (yes it already comes as an rpm) with rpm -iv --force --nodeps (make sure kernel source is installed first), then do:
<your password here>
chmod u+x make.sh
chmod u+x make_install.sh
and then startx.