I ran Gp3 on this system fine,
300Mhz AMD K6-2 (overclocked to 350Mhz)
16Mb Creative TNT graphics
96Mb PC100 Sdram
Soundblaster Live!
Win98SE
DirectX 7
Dual Analog Playstation Pad hooked up to printer port
Used to run in 800x600 with trackside objects LOW, no textures in mirrors, reduced texture detail.
24-25.6 fps
This was the system I had when I bought Gp3.
Although used to get some viscious slowdown on the 1st lap.
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Make sure you`ve got antialiasing and anisotropic filtering turned off on your Geforce display properties, and set texture detail to best performance.