HDMI<> Display Port

I have been doing a lot of research but all I find is B/S like when they were invented, royalty rights, extra pins ect. but not just some basics answers to some basic questions.

I have a video card and display both with HDMI and Display Port ability.
At the present time I'm using HDMI to HDMI.

1. Can I use HDMI and Display Port using 2 cables at the same time on the same screen and is it a advantage or disadvantage?
Please explain.

2. If I just use Display Port will it work better that just HDMI?

I don't have a Display Port to Display Port cable at this time.
I will buy one if it will make things better.

I'm not having a problem at this time. I'm just trying to get the most out of my hardware.

Asus GTX-770 Direct CU-II/OC
Asus VE278Q

HDMI does not support such high resolutions as display port. HDMI maxes out at 1920 x 1080. Display port is what you use for higher resolutions if your monitor supports it. In fact if you feed HDMI into a higher resolution monitor you are limited to 1920 x 1080 resolution.

DisplayPort - Wikipedia, the free encyclopedia

Laybackbear your monitor has displayport for future proofing. There would be no advantage in your case to get the cable aside from future higher resolution displays will need it. But you need a new monitor for that.......

Thank you both for your input. I think now I understand.
I was thinking that because it had a Display Port it would be better. Once going back over the specs 1920 x 1080 is it.

I will just have to suffer with HDMI.