3D and floating point optimization

[Simon Wittber (Maptek)]

Many years ago, using fixed point numbers to speed up calculations (esp.
in the demo-scene) was a standard optimization, which would speed up
code by orders of magnitude.

I have been experimenting with Python+OpenGL and have run into a few
speed bumps. 

My question is, considering the speed of today's FPUs, is using fixed
point math still a valid optimization, in Python?

simon.