256 color wb is the highest you can go. it is faster than aga but not by much. in other words 640x200x8bit is nice and fast 640x480x8bit slows down a bit anything over that is a bit to slow to use imo. so even if you could use 16 bit color you would only want resolution of 320x200 or so.
this card is a zorro2 card so it hits about 3mb per sec transfer rate and the memory is segmented like pc vga and old svga cards so that slows it down a little more. it is a very decent card but zorro2 only if you want a much faster card (pci speed transfers) than get a zorro3 card like the retina z3 or picasso IV
BTW the higher resolution modes of this card are great for painting and dtp apps but nothing that requires a high update rate at high resolution