2D and 3D acceleration is available for that GPU on FreeBSD 8.2. 3D acceleration is not great, but decent enough to play neverball and openarena, or even enable desktop effects (just don't play games and enable desktop effects at the same time).
xf86-video-ati has bugs that you might be hit with. For example, on one machine if I restart X, the entire computer locks up. Doesn't happen with another machine, though. I also sometimes get visual artifacts. Others, however, have neither of those problems.
Unless FreeBSD acquires support for KMS/TTM on radeon hardware, I only expect things to get worse for currently supported hardware. You should also not expect any newer radeon GPUs to have any acceleration till KMS/TTM is ported over.
Adam
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