SPD cleats will not fit a three hole pattern shoe(unless the shoe is also SPD compatible. Look to see if there are two parallel cutouts running toe-heel). If the shoe only has the three holes and nothing else then it is not SPD compatible. As for the Speedplays, they will work with the three hole shoe. the pedals come with an adapter that has a three hole mounting system. the cleats then mount to this adapter.

hope this helps.