Skuzzy: I am attaching my AH2 settings folder. I had another thought: I was using custom sounds in AH2... honestly no idea at all if that would make a difference, but thought I'd mention it.
Pudgie: It's not working great: I flew quite a bit last night, and what my testing revealed is that my plane is always lower, slower, and less agile than everyone else's plane (and yes, I tried all the different planes, sheesh). Plus my bullets are affected, and don't hit anything. I'm like 99% sure that's the graphics card.
Other than that, I'm getting 20-30 FPS in the main arena, with the default graphic settings. Using the DX9 version. I did have to set max texture size to 1024. Everything but gauges was black before I set that. (full story if it matters: ran fine in DX9, so tried DX11, it started fine, but then more and more things go black. After that, even DX9 version was all black. Setting max texture size to 1024 fixed DX9 version. Didn't try DX11 since then). I'm pleasantly surprised. It may not be great, but it's playable. I think that's a nice testament to the balance the guys at HTC achieved. Good choices were made.