The problem you mentioned on having to reinstall was with DX8.0. If you get DX8.0a, then I haven't heard of a single problem.
Since 3dfx cards don't support DX8, then there isn't an advantage (minimal at most) to upgrading if you are running a Voodoo card. nVidia cards, on the other hand, do support DX8 and can see a slight improvement.
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