However we definitely have the computational ability to do simulations a fly network. Look at some of the modeling done by the Blue Brain Project or Allen Institute for Brain Science - they do simulations of rat and mice models with hundreds-of-thousands to millions of neurons and exponentially more synapses. 3000 neurons is not that many. If you stuck to non-compartmental point models a 3,000 neuron simulation could probably be ran on a moderately high-end laptop.
But as said before, the physical connectome is only part of the information you'd need do any worthwhile simulations.