Perhaps I can chime in here.
I used/operated a Parhelia for about a year, and I'm now using a 9800 Pro...so I have first hand knowledge of FAA, the pros/cons, how it compares, etc.
If it were possible to work out all the kinks with FAA, it would be the most awesome implementation IMHO. I mean, when you take a good look @ some game where FAA is fully functional, the results are truly amazing. As has been pointed out numerous times, the problem is that Matrox's method didn't work all/most of the time...If I were to hazard a percentage, I would say about 80% effective, perhaps a little less.
I'm highly impressed with the 9800's AA modes...but FAA sure did look good...damn good. If Matrox can iron this out with their next chip and possibly offer even more samples, they could have a serious winner on their hands.