Viewpoint interpolation is the process of synthesizing plausible in-between views - so-called virtual camera views - from a couple of surrounding fixed camera views. To make viewpoint interpolation possible for low/moderate-power consumer applications, a further quality/complexity trade-off study is required to conciliate algorithmic quality to architectural performance. In essence, the inter-dependencies between the different algorithmic steps in the processing chain are thoroughly analyzed, aiming at an overall quality-performance model that pinpoints which algorithmic functionalities can be simplified with minor global input-output quality degradation, while maximally reducing their implementation complexity w.r.t. arithmetic and line buffer requirements. Compared to state-of-the-art CPU and GPU platforms running at several GHz clock speed, our low-power 100 MHz FPGA implementation achieves speedups with one to two orders of magnitude, without impeding on the visual quality, reaching over 100 frames per second VGA high-quality, 64-disparity search range stereo matching and enabling viewpoint interpolation in low-power, embedded applications.