From Vijay's blog:
New GPU3 (version 6.41) client released
The latest GPU3 client is now on our high performance client download page. This new client improves GPU identification and has several other minor improvements.
For those who are unfamiliar with the other FAH clients: there are several types of high performance clients. SMP refers to multi-core GPUs. GPU3 refers to the latest generation Folding@home GPU client. Currently, GPU3 is only available for NVIDIA GPUs, but we are working on a GPU3 release for ATI. For NVIDIA GPUs, we recommend GPU3. For ATI, we suggest GPU2 until GPU3 has passed through its QA testing (going on now). Finally, the v7 Folding@home client (currently in alpha testing) has these functions (SMP and GPU) built in and will not require a special client.