The FPGAs in the Omega can be clocked at well over 200MHz. AFAIK the reason to stick with 33MHz-PCI was that a lot of PCI cards do not work with higher frequencies.
SDRAM is not obsolete at all, it has a much lower latency than DDR-SDRAM.
I don't see where my point on compatability is pushing it. Show me an Iyonix wich I can use for serious sound- and video-editing. I have an Omega here on my desk, wich does it perfectly, running ProSound, StudioSound and CineWorks.
And there is nothing "magical" about reprogramming FPGAs at run-time. It's just really useful.