With everything turned down, in Glide on my Voodoo5, I can look at a wall and zoom in (fov zoom) and hit over 300 sometimes.
I'm not sure what's happening in your screenshot there, but those numbers seem artificially high, especially considering your system. Dunno.
I use a few tricks to improve my fps. I run in nice high res, but I also run with low texture detail. It looks beautiful, if not overly detailed. I run with weapon hidden, big help there. I use an MLOD of 3.5, which helps a bunch in over-populated CTF games, for instance. I have dynamic lights, decals, volumetric lighting, etc. turned off. I have my V5 overclocked to 183.
I use Cacheman, PS2Rate, X-Setup, ConservativeSwapFileUsage, etc. I've altered my V5 drivers in the registry (buffered frames and LOD). I have reduced gore (no gibs, but still red blood). I have the sound quality at 22050, 12 channels, no reverb, low sound quality (sounds pretty good on my large stereo, though).
I have my netspeed at 8760, which is a multiple of my MSS, and is identical to my DefaultRcvWindow, which helps on my DSL. I have every BIOS setting tweaked for speed.
Maybe some of these can help some people get better rates.