Friend of mine who is doing a graduate EE degree at UNM showed me one of his assingments the other day in which he had to design a processor on an FPGA that only calculated sine and cosine of a 16 bit fixed point input. It was really interesting- he did two versions of it, one that took 16 cycles (like ripple adder style), and one that calculated sin and cos in a single cycle. I looked at how he did the 16 cycle thing, and it was a kind of successive approximation thing that worked out way better than I had ever expected.

Anyway, after seeing how easy this assignment looked, I'm sure that ATI and nVidia are capable of doing it on their modern cards. I don't have a transistor count for my friend's stuff, but it didnt look like it would be that high, and I figure would be likely to be included as it would definitely make a lot of shaders run faster.