Yes, shaders are needed, and those can be created with 3DGS as it stands now. The Sphere plugin is a good place to look for that. The demo has an indoor level that is somewhat comparable to the screenshot. It isn't as polished, but it's a start.

Am I in the right thread here?

4 FPS on a Compaq Presario AMD Sempron 3200+, 1.8 GHz with ATI Radeon Express 200 series at 700 ram (OS is stealing half)
WindowsXP Home, Service Pack2.