Although this card is S3's flagship video solution at the moment, it doesn't necessarily mean that it has the ability or the intensions to compete with the high end solutions now available on the market. Keep in mind that this card is not nearly in the price range of something like a $300 (USD) GeForce DDR board.
3dfx won't have it's newest line-up available anytime soon so the VD3 3000 and VD3 3500 are the two contenders. Although both cards can't offer 32-bit color, they both are decently fast at 16-bit 3D and have very good driver support. The 3500 is slightly more expensive but offers a TV-tuner and superior video options than the Viper II offers. Also keep in mind that the VD3 series of cards does not have hardware T&L.
ATI really doesn't have a card that can compete with the Viper II just yet but we'll be taking a peek at the ATI Rage Fury MAXX as soon as it makes its way into the lab. The MAXX will be in a similar price range, offering awesome fill-rate performance but doesn't come with hardware T&L. Keep your eyes peeled for something about this, very soon.
Matrox is currently shipping the G400 series cards that will be competing at and above the price range of the Viper II. The G400 will be at the same price while the G400 MAX will be slightly more expensive. The G400 cards offer great visual quality, decent fill-rates, good video performance and feature environment bump mapping. Keep in mind the G400 solutions don't come with hardware T&L.
NVIDIA is offering two products that will end up competing with the Viper II; they are the TNT2 Ultra and GeForce SDR. Now the TNT2 Ultra is slightly cheaper than the Viper II while the GeForce board will be slightly more expensive. In theory, the Viper II should offer better performance than the TNT2 Ultra while offering relatively competitive solution to the GeForce SDR boards. The GeForce has a full functioning T&L unit and offers currently the best real world fill-rate we've seen to date.