Turns out the performance problem I was suffering was due to either one of two things I did after installing the new patch.
First thing I did was replace my nose art with something new I wanted. but it turned otu to be the wrong size and color number.
Second thing I did was download and install the hi res texture pack.
Absent any other logical reason for the hit that made any sense. I figured I'd replace the nose art back with the original. and re download and reinstall the hi res pack.
Loaded the game back up and presto. Everything is working as it did before. Maybe even a slight touch better
Im even getting to use my original settings