Kyle over at HardOCP took some FRAPs frame time captures (presumably he doesn't have FCAT) and the results are actually quite interesting. 3 of the 4 games showed a marked improvement in the frame times, with tomb raider being the biggest gainer.
Many people will ask why this matters when FCAT captures what is actually output. The reason is that FCAT measures frames, not the contents of the frames. FRAPs frame times tell us how smooth the input to the contents of the frames are. This is another source of stuttery gameplay that actually AMD and Nvidia are ignoring right now. In this case introducing frame pacing has also improved the "backpressure" to the CPU and the game engine via DirectX. Thus we have better more consistent frame contents production as well as better output to the monitor. This is good all around, AMDs fear that it might produce odd backpressure and worse frame rates are both evidently unfounded.
They have solved much of the problem although not all of it. I want the exact scan line data as there is clearly a pattern to the fps data with discrete steps and I am wondering if they are only adjusting periodically verses every frame. The single frame runts are also a good indication that AMDs frame pacing is reactive not predictive. That is it waits for the cards to get out of sync and then corrects it. But I am surprised they still have runts as I would expect them to correct the moment they move away from each other, its very likely it takes several frames to get so far out of sync to produce a runt/dropped frame. So speculatively it looks like they aren't correctly continuously (like Nvidia) and they are doing so reactively (rather predictively as Nvidia has claimed in the past). They also seem to be correcting only at certain thresholds which may explain the thicker bars of variance.