It really depends on your expectations. If you have a CRT, then a current GPU "may" not be needed (dependent on resolution and vector graphics enhancements). However, if you are running a LCD, and want to reproduce the proper scanlines and/or higher-res graphics, then you will need a powerful GPU to run HLSL or BGFX optional effects. Both of these options will require the use of a more-powerful GPU to push the enhancements to the quality you want to achieve.
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