Found this in Wikpedia in regards to Dragon View:
"While not "True 3D", the overworld engine simulates depth on its own (without the aid of supplementary hardware such as the Super FX chip) using sprite scaling and rudimentary rendering. This system is able to run smoothly on standard SNES hardware because little more than half of the total screen area is ever in use. Since the top and bottom panels are completely static during overworld navigation, all hardware power is focused on rendering the first person view. Even so, framerates can suffer as many sprites are sometimes present on a single screen."
If this is a case, almost makes me wonder if the Turbob could pull this off, not unlike Faceball? Even still, I'd rather the overworld be like Legend of Xanadu.