The performance numbers posted from a VIA C7's hardware SHA-256 weren't astronomical.  Only in the 1500 khash/s range.  If you think about it, just because it's implemented in hardware doesn't mean it's crazy fast.  It still has to do all the steps.  It's only if simplifying it down to single-purpose hardware makes it small enough to fit many in parallel.  That's not necessarily easy or a given.