I think you should look at this like a tool set. Table look up is one tool that you can use as it iterative function evaluation. What tools you use depends on circumstances. On the PC platform you have big caches, lots of memory and real fast CPU clocks. If you go FPGA clock rate goes down as does amount of RAM that you can access. You have better control of process delay. FPGA favors more computation while the PC platform likes table look ups.
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