OK...here is what worked for me.
I actually uninstalled ATI Tray tools. (previously uninstalled CCC)
I then moved antialiasing in-game to full. Made sure vert sync was enabled.
In otherwords I'm letting the game itself control my graphic controls to the extent they can.
With the new patch I am reading correctly the vid Mem usage display. Previous to this patch (yesterday)
My vid display read VidMem 512M USED 4009.6 but still had max frames.
I ridded my system of ALL graphic card controlers (CCC & Tray Tools) and am letting the game control my graphics.
The only thing off is shadowing and now my Vid MeM display reads VidMeM 512M USED 143.2M.
We just may imho have a problem with some systems that are using CCC and/or ATI Tray Tools for some reason.
My FR is now pegged at 59 -60 everything maxed to quality in-game and it looks superb.
Maybe using some type of Vid card control outside the game, and graphic setting inside the game such as anti-aliasing
we MAY be getting conflicts. <shrugs>
Disclaimer....this is a shot in the dark and an uneducated guess. Best I could do
BTW if you have software that can repair your registry, (Driver Cleaner etc. use it after the uninstall...and scan your registry more
then once for problems.)