I worked with a friend of mine who wanted to rewrite the Unreal Tournament Direct3D driver (years ago), I took a look at it, it's texture caching is pretty oddly implemented, that's probably the primary reason Glide might outperform it so much.. Epic also wasn't the one who coded the driver so you can't blame them.
In comparing OpenGL and Direct3D, OpenGL gives the IHV more flexibility to implement optimizations specific to hardware, since the back-bone isn't controlled by microsoft files, it makes the path between the API and the hardware shorter. I'm not sure what that would mean to you guys tho, both are highly researched and optimized libraries at companies like nvidia and ati.