Guys, I took a severe frame rate hit with the update and after fooling with every video setting I could possibly find, I finally UNCHECKED detailed water and got my frame rates back. With detailed water checked, my frame rates were very erratic and ranged from single digits to high teens; with detailed water unchecked, they are back in the 50 to 60 range and steady.
I still have the slightly fuzzy instruments and the ground detail at altitude looks a lot worse than before the update, but at least I got it flyable again for me.