Here is a tidbit from
http://www.rojakpot.com/Speed_Demonz/BIOS_Guide/BIOS_Guide_01e.htm
Video BIOS Shadowing
Options : Enabled, Disabled
When this feature is enabled, the Video BIOS is copied to the system RAM for quicker access. Shadowing improves the BIOS' performance because the BIOS can now be read by the CPU through the 64-bit DRAM bus as opposed to the 8-bit XT bus. This seems quite attractive since that's at least a 100x increase in transfer rate and the only price is the loss of some system RAM which is used to mirror the ROM contents.
However, modern operating systems bypass the BIOS completely and access the graphics card's hardware directly. So, no BIOS calls are made and no benefit from BIOS shadowing is realized. In light of this, there's no use in wasting RAM just to shadow the Video BIOS when it's not used at all.
Ryu Connor confirmed this by sending me a link to a Microsoft article about Shadowing BIOS under WinNT 4.0. According to this article, shadowing the BIOS (irrespective of what BIOS it is) does not bring about any performance enhancements because it's not used by WinNT. It will only waste memory. Although the article did not say anything about Win9x, it's the same for Win9x as it's based on the same Win32 architecture.
Not only that, some manuals also allude to the possibility of system instability when certain games access the RAM region that has already been used to shadow the Video BIOS. However, this is no longer an issue as the shadowed RAM region has been moved far from the reach of programs.
(more at the link)