'NO LAND 3' would be annunciated on the EICAS when the Rad Alt fails and shortly afterwards a RADIO ALT L message would be annunciated on the status page. The aircraft would then only be capable of a Cat 3A autoland, with LAND 2 annunciated on the PFD at 1500ft RA during the approach.
The RVRs you quoted (150/150/150) are below those required for a Cat 3A approach, so you wouldn't be able to do the approach.
The MEL is only relevant for dispatch and is not applicable when the aircraft is airborne.
Last edited by BuzzBox; 23rd April 2009 at 03:48.