Just as 3DLabs mentioned to us during our P10 briefing, in order to make the 3D pipeline entirely floating-point you need to be on at least a 0.13-micron process which won't be mature enough (at TSMC at least) until this fall to use for a mass production GPU.
At the same time they work on integer data and not 32-bit floating point values which is required for DX9 compliance. The reason the Parhelia cannot claim these two key features is because of, once again, a lack of die-space
If you think what the 5200 has in its core, you see that there's not really all that much (ie: not all that high transistor count)
And the NV31 (FX5600) is apparently "The NV31 is a 0.13-micron GPU"., plus the FX5600 only has 75m transistors, so it's not very "feature packed"
"47 million transistors" for the FX 5200, and it is rather slow.
The reason 3D Labs thought it could not be done was because of lack of space on the dies, which isn't a problem at the lower end of the market because there is only a limited feature set that's on the cards anyway, so they do actually have a fair amount of space to be able to incorporate the extra transistors needed for a fully FP pipeline, and since they only have something like 2 or 4 pipes, that lowers transistor count for these features as well.
isn't economically viable for 3DLabs with the P10 when you take into account the increase in gates over the present mixed fp/integer setup
Now, with a chip that has 80m transistors, the complexity and difficulty in making it fully FP is quite high. 3D Labs seem to be suggesting higher end parts would have difficulty, and considering there are 8 pipes on the 9700/9500/9800 cards, and they are fully FP with 0.15, this is quite impressive.
the very large and very expensive R300
Suppporting 3D Labs point about it not necessarily being economic, and Matrox's issue of lack of die space.
This is also very different to the FX5200 which is a simple chip, thus has a low transistor count and isn't therefore large. At 110 million transistors for the R300, it's more than twice the number of the 5200's core.
BTW: I have has 2 TNT2's and a GF4 (Ti ofc), those are my only 3 graphics cards, don't call me a fanboy
ATi managed some fairly impressive things before, and I'm guessing may manage good things in the future.