I just read from SlashGear that All About Symbian is to announce that the much hyped upcoming Nokia N97 is going to use the CPU/DSP/3D TI OMAP2420 platform found on some of Nokia's older phones like the N82,N95, and E90. It is also used by other manufacturers such as Motorola (Q9h) and Samsung (SGH-i617). The OMAP2420 platform includes a 330 MHz ARM1136, 220 MHz TI TMS320C55xDSP, and PowerVR MBX 2D/3D Graphics Accelerator providing a powerful solution for highend phones.
If this were true it would be a complete backtrack for Nokia after switching most, if not all, of their phones to the the Freescale solution such as the N85, N79, E71, E66, etc.
A number of sources suggest that Nokia will be using the Freescale MXC300-30 that's also found in Nokia's only other touchbased S60 phone, the 5800. The Freescale MXC300-30 supports an ARM11 processor up to 532MHz and StarCore SC140 DSP up to 250MHz so Nokia has a lot of space to grow before reaching the limits of this platform.
Considering Nokia had worked together with Freescale to produce the single core design of the MXC300-30 and the inclusion of a large 1500mAH battery, I tend to believe Nokia will use the Freescale solution as they have with many of they most recent phones to provide optimum performance for battery life. Not even N-Gage requires hardware 3D acceleration so there's little need for the N97 to have it. Sorry, you won't be able to run Quake 3 on the N97.
Although prototypes of the N97 were available during Nokia World 2008 for the press to test, it is still possible (but very unlikely) the N97 hardware can change so anything is speculation until the N97 is release in Q2 of 2009.