Hm, AFAIR I never had a problem with Shogo and a Voodoo3 3000 (PCI) in hw-mode.
When using a Radeon 7000/VE (AGP) under MOS 1.2 and earlier I also couldn't get any screenmodes (can't remember whether it already worked with MOS 1.3).
After disabling movies the sw-renderer with the Voodoo works with sound also; haven't tried the Radeon with these setting as I'm to lazy to switch gfx-cards ATM.