FPGA chips are very powerful, have a look at this FPGA video game implementation that used to require a custom board and complex circuitry to make work.
"The original Pac-man arcade game, implemented inside a single Xilinx Spartan-3E chip on a Spartan-3E Starter Kit. None of the extra hardware on the board is used, the chip in the middle implements the complete arcade board of the original game!"
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Sweeeeeeeeeeeeeet.
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Jeri Ellsworth, who designed the C64DTV, will be giving a presentation at this year’s Notacon about FPGA demomaking.
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Why no one is making updated hardware to text mode of VGA?
More colors, more character attributes, visual effects, like region or per-character gradients, etc.
Modern software drivers for frame buffers are so slow, even on NHz && GHz hype things…
Yet, many jack off on text mode demos: http://www.taat.fi/tmdc/
Oh well…