http://www.oldblivion.com/

QuoteOldblivion is a piece of software which allows graphics cards which are pre DirectX9 to run Elder Scrolls: Oblivion from Bethesda. This means that Oblivion can run on cards such as Geforce 3, Geforce 4, Radeon 9200 and so on. Oldblivion is still in an early development phase but it's fairly stable, however there still are a few bugs and kinks to work out.

does this make oblivion any closer to being able to run on a voodoo5?  i think that would be an ultimate scene achievement.

two words: pixel shaders.

what about 3d-analyse + oldblivion?

There is already something like this out.