I'll second that motion. I think ATI disables Z-compression when 16-bit Z is used, and NVidia might do the same. That would explain the 32-bit colour + 16-bit Z fillrate being somewhat low. I would expect near perfect Z-compression in a fillrate test.
I'm also surprised at the 16-bit alpha blending performance. Anyone think NVidia only put 8 blending units on the card? It's very reasonable, though, for 32-bit rendering. I wonder how many FP blending units there are. It would make sense (from a bandwidth point of view) for there to be only 4, but hopefully NV40 can still FP blend more than 4 pixels when rendering into a single or double channel formats (like D3DFMT_R16F).