It compiles DirectX 9 pixel and vertex shaders to (mainly) SSE assembly code. So no DirectX 9 hardware is required, but SSE support is recommended (else it emulates the SSE instruction with FPU instructions).
Now disable HT:
3.4ghz(240mhz X 14) 49fps
Do you have several applications running in the background? With Hyper-Threading enabled, execution time is shared with the background applications. Without Hyper-Threading, it steals nearly all execution time so it performs better.
The demo also doesn't use Hyper-Threading, yet. Once I've implemented it performance might be the same or higher than without Hyper-Threading. Unfortunately I don't have a Pentium 4 system. Any Intel sponsors around? :wink: