I stand corrected. There are some 3D features that require as a minimum a DirectX 9 compatible card with 64MB ram. It also lists 512MB system ram the minimum even for vista.
But you are right, it doesn't seem to need all that much in the way of GPU rendering.
* Intel Pentium 4, Intel Centrino, Intel Xeon, or Intel Core Duo (or compatible) processor
* Windows Vista Home Premium, Business, Ultimate, or Enterprise (certified for 32-bit editions)
* 512 MB of RAM
* 1 GB of available hard disk space (additional free space required during installation)
* DVD-ROM drive
* 1024 x 768 monitor resolution with 16-bit or greater video card
* Some 3D features in Photoshop CS3 Extended require a DirectX 9 capable graphics card with at least 64 MB of VRAM
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