From the 3DMark03 Whitepaper:
"Score Calculation
3DMark03 scores, as with previous versions, will initially range between a 1000 and 5000 3DMarks. They are scaled such that an entry-level system will score approximately 1000 and a high-end system, at the time 3DMark03 product release, will score approximately 5000. Note that an entry-level system is approximately one with a DirectX 8 graphics card and a CPU corresponding to 1 GHz; a high-end system roughly has DirectX 9 graphics card and a CPU corresponding to 3 GHz. Of course, with time, the high scores are expected to keep increasing. For example, for 3DMark2001 the best score immediately after the launch was close 5000, and today’s high scores are over 20,000 3DMarks.
Each of four game tests generates a frame-rate (in frames per second) that is used to calculate the overall score. The formula for calculating the overall 3DMark03 score is:
3DMark03 score = (Game Test 1 frame-rate x 7.3) + (Game Test 2 frame-rate x 37) + (Game Test 3 frame-rate x 47.1) + (Game Test 4 frame-rate x 38.7)
This formula has been obtained by running the benchmark on a number of high-end systems. The results for each system are weighted such that game test 4 gives 20% of the total score and game tests 1, 2 and 3 are equally weighted to give the remaining 80%. Hence, game test 1, 2 and 3 each give 26.6% of the total score. The weights are averaged across all the systems used to generate the weights in the formula.
In 3DMark03, we have separated the measuring of CPU performance (for 3D graphics usage) into a separate test and score. This score will range from approximately 100 for entry-level systems to approximately 500 for high-end systems. The formula for calculating the CPU score is:
CPU score = (Game Test 1 frame-rate x 4.6) + (Game Test 3 frame-rate x 27.5)
This formula is obtained using the same approach, with the two game tests weighted such that each contributes 50% to the final score. The results of the rest of the tests are reported as a frame-rate (in frames per sec). The fill rate feature tests are the exception; they report results in million texels per second."