*ON TOPIC*
As the title says, this is about VS3.0, not PS3.0. Anything that can be done in PS3.0 can be done in PS2.0, albeit sometimes with another pass or two. However, there are a few things that VS3.0 adds that cannot be exactly replicated in PS2.0, like the demo posted here. Also, in SPC:CT, the parallax mapping is just a form of normal mapping, and could be very closely replicated using a PS2.0 part. So, in summary, if the developers added full functionality for both codepaths, then the image quality/features would be the same. Obviously I cannot prove this, but developers have said time and time again that anything that can be done (image quality wise) in PS/VS3.0 can be done in PS/VS2.0. I don't have a preference for ATi nor Nvidia, but rather; I buy the card with the best price/performance in a given generation. It's also quite evident that the OP did not intend to start a flamewar. He was merely providing some information that showed some of the cool things that VS3.0 can do. BTW, I own a 9800Pro.
I hope this quells some of the incredibly misguided flamewars that have been going on lately.