Rice has released version 4.5.0a of his Daedalus Plugin. This release supports 16bit mode, and here's a note from the author:
Someone complains the 16bit supporting as they have voodoo3 or other video cards which support 16bit only for 3D rendering.
I tried to work on it, quickly fix it. I thought it could take me long time to fix, but in fact it did not.