I have also taken a big hit on frame rates since the 1.09 upgrade. ALL my squadies have made the same observation, even those with higher-end computers.
I was averaging about 40-50 fps. I'd occassionally see FR of 60. FPS dropped when I'd engage, to high 20's - mid 30's.
Since the upgrade, I'm averaging high 20's to mid 30's fps just flying from place to place. I rarely see 40 fps, and have yet to see 45 again, much less 60. FPS usually drop to 20 or below in a furball now. I can barely score a hit anymore, as picture actually seems to blur, and planes leap from one postion to the next, versus making a smooth transition.
I have a 32 MB GeForce 2 pro video card. I'm going to have to get a new video card to continue playing. GeForce 3 ti200 runs about $150 or so on some web sights, plus tax, shipping, and handling.
To sum up: the upgrade is too much for my computer to handle and it is going to cost me a chunk of money to continue to play. I do not believe that I am the only one in this position.