depends what you call true hw disp mapping. but tesselation of geometry in a dynamic way, including automatic distance dependend lod is one the new dx9 features (depending on gpu/vpu done in hw or software.. pathelia in hw, r300 in hw, gfFX i bet in hw). the other new dx9 feature is "vertex texturing", that is, sampling a value per vertex from a texture, according to texture coords stored/generated at that vertex, and do something with that value (namely, add that value to the position of the vertex in direction of the normal, then you get displacement mapping)..
those two features: tesselation, and vertex texturing together, create a very nice displacement mapping..
now, if its in hw depends on the hw, not on dx9..
r300 can do it, gfFX i bet will be able to do it, pathelia is able to do it, too..
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