From what I can see... it runs mostly in software mode.
Anyone can give some more detail info about it?
-edit-
Never mind I got the point. Just like I was thinking.... "Your GeForce 3 is doing a bikini wax while standing on the sideline when this baby smokes your CPU"
While some parts could be hw-accelerated (the dynmov for example... in Milkdrop it IS hw-accelerated), I'm not sure it would give any speed up... the picture would have to sent to the 3D card, processed and then returned to system memory for the CPU to continue working over it. That's quite some overhead actually...