I voted option 1, but please note that it *isn't* exactly what I meant.
Option 1 suggests the NV31&NV34 couldn't run Game Test 4. I believe both can ( I'd probably really not be impressed by Game 4 performance, however... )
My opinion, however, is that NV34&NV31 performance has been cutted in the areas 3DMark 2003 find the most important.
I'd guess, for example, that if nVidia insists soo much that 3DMark 2003 does too much skinning, it's because NV34 performance for VS is simply crap.