Zeke, well we will always "brag" about it ! Yes, it has hardware acceleration using vaapi or vdpau for rendering.  The Manual (https://www.cinelerra-gg.org under Documentation) goes into detail but a test case from probably 2 years ago as quoted there shown below:

Results of a particular test case performed on a Intel, 4-core computer, with Broadwell Graphics using an mp4 input video/audio file with dimensions of 1440x1080/29.97 fps is shown next (note, filename is tutorial.mp4). This may very well be a best case scenario! But clearly, at least on this computer with only 4 cores, the hardware acceleration seems to be quite advantageous. A comparison of the 2 output files
using ydiff as described in the Appendix (C.1) shows no obvious defects.

      CPU usage   Render Time    File Size     File