Hmm, ~50% cpu load on a 800MHz A8 here, at a low teen fps. Not bad for a sw rasterizer, at that viewport resolution. But had this demo tried to do bilinear filtering, or heck, even something a tad more dynamic than a single texture layer with no other intepolants than uv things would have looked differently. Ok, I saw one env-mapped object too, so at least it can do some per-vertex work. Of course, that's where 3D tech was back in the mid '90s, which is where the darn problem is - it's too little, at too high a wattage cost (on a mobile, anyway).Have a look at this thing:
http://ecodazoo.com/
One of the most amazing Flash 3D things out there, IMO.