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bcrypt at 10ms only being 300 times slower would indicate you can only try 30,000 MD5 hashes per second -- which is incorrect. Using a GPU based cracker on a current generation top-end video card you can calculate over 300 million per second.

Bcrypt at 10ms is 3 million times slower, not 300 times.

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Your comparison is flawed - you're comparing GPU evaluation times for MD5 against CPU evaluation of bcrypt.

There is no such thing as a GPU based bcrypt hasher because it woudln't be - from my understanding - any faster then a CPU based one. Not all calculations are able to be sped up through the use of a GPU.

So I'm comparing the fastest you can do bcrypt hashes (100 a sec at that work factor) vs the fastest you can do MD5 hashes (250 million per second)

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