This is where chaphack seems to really miss the "thought boat" on this whole PS3 thing (well actually, he misses it numerous areas, but you get the point). It's not a matter of hardwired 3D features, anymore. Basically any effect is open game once you are able to express it in software. That's the beauty of this approach- you get to meet and beat anything the competitor has in the way of effects by software, while the other guy's features are frozen in hardware once the die has been approved.
I don't think he "gets" the point about sub-pixel polygons, either, as he still seems to be rambling on about whether textures will be high-res or not. It's an entirely different ballgame once the polygons are smaller than the pixels vs. what we have now where the pixels are smaller than the polygons. Determining the color for a pixel based on a "texture" (if that entity will even have a formal existence in this new regime) become radically easier to handle, as I understand from the article.