Yup, my latest demo does that, almost. Simple scene + complex lighting = around 50fps in 1024x768. 
What I have done it to evaluate the phong illumination model in a fragment_program, replacing things like normalizing cubemaps with math.
Get it here:
http://humus2.campus.luth.se/~humus/
(OT: Damn how hard "phong" is to write, it tends to end up as "phone", even while writing this sentence.
)
What I have done it to evaluate the phong illumination model in a fragment_program, replacing things like normalizing cubemaps with math.

Get it here:
http://humus2.campus.luth.se/~humus/
(OT: Damn how hard "phong" is to write, it tends to end up as "phone", even while writing this sentence.