.NET 3.0 is technically more like .NET 2.x
What it does is build and expand on the .NET 2.0 CLR
CLR 2.0 - Base Class 2.0 - ASP .NET 2.0
-------------------------- Forms .NET 2.0
-------------------------- Communication (3.0)
-------------------------- Presentation (3.0)
-------------------------- Workflow (3.0)
-------------------------- Cardspace (3.0)
Each of the new 3.0 add-ons (which are just renamed and structured WinFX systems) provide key support for application development in the modern workplace environment.
Better support for developing better UI Systems (Office 2007 is a good example of this) as well as better application communication and user information. It can all be accessed and used very quickly and easily providing your applications with the ability to integrate and flow with a modern workplace environment.
and yes 3D is available through XAML, however this is already supported by the .NET 2.0 Framework. WPF simply provides you with the ability to integrate it seemlessly.
This said personally I'd recommend using Managed DirectX for 3D work, as it work seemlessly over both XP and Vista.
Intel Pentium-D 2.8GHz, 512MB DDR2 433, Ati Radeon X1600 Pro 256MB PCI-E, Windows Vista RC1 / XP Professional SP2