info <general>: GL_VENDOR = Mesa
info <general>: GL_RENDERER = llvmpipe (LLVM 19.1.7, 128 bits)
info <general>: GL_VERSION = 4.5 (Compatibility Profile) Mesa 24.3.4
^ The 7300 log shows it fails to evaluate VDPAU (because https://nouveau.freedesktop.org/VideoAcceleration.html shows 7-series is not currently supported) then falls back to llvmpipe, so it's not using nouveau. LE only builds mesa with nouveau, not with swrast or llvmpipe (although that could be changed) so this explains why you see the GUI.
info <general>: GL_VENDOR = Mesa
info <general>: GL_RENDERER = NV96
info <general>: GL_VERSION = 3.3 (Compatibility Profile) Mesa 24.3.4
^ The 9400 inits VDPAU and uses nouveau, but:
2025-01-30 11:48:08.789 T:1589 warning <general>: VDPAU::Open: requested picture dimensions (1920, 800) exceed hardware capabilities ( 0, 0).
2025-01-30 11:48:08.789 T:1589 info <general>: (VDPAU) Close
2025-01-30 11:48:08.791 T:1589 info <general>: VDPAU::Close - closing decoder context
^ The 9400 fails with the same error that I see on the LE image (which proves it's not LE related).
MPlayer required only 35% CPU load on Slackware with 7300LE. For 9400GT the load is higher (more system) 75%
^ The interesting thing here is that llvmpipe appears to be more efficient at software decode than nouveau.
In summary: the Slackware image support and behaviour with nouveau/VDPAU is exactly the same as the LE image. Thanks for sharing the full logs, it really helped to un-confuse things 
The firmware files required for newer nVidia cards are distributed as part of the vendor driver package which ships with a license that prevents separate redistribution of component parts of the driver. The approach taken by most distros is to package a script that downloads, extracts, and installs the firmware files where they need to be on first bood; so I've reworked the package to do the same. It does require a reboot to setup the firmware overlay from /storage/.config/firmware/nouveuu, but that's not too bad.
I'll have a look at building llvmpipe into the image as a fallback.