The thing that sucks is that performance doesn't really improve when you lower the settings, except for AA. The difference between 2048x2048/High shadows and 1024x1024/Normal Shadows was 1.8 FPS for me.
With maximum settings + 4xMSAA/16xAF, I get 10.3 FPS min / 18.0 FPS avg (8800GTS 640MB @ 612/2000)
Maximum settings, 0xAA/16xAF, I get 12.6 FPS min / 22.4 FPS avg.
@ 1920x1200 w/ Max Settings, 0xAA/0xAF = 10.6 FPS / 20.2 FPS (GPU @ 612/2000)
1920x1200 w/ Max Settings, 4xMSAA/16xAF = 8.9 FPS / 15.6 FPS (GPU @ 612/2000)
While obviously we don't have a TRUE "DX10 title" yet, I believe that a significant problem is still drivers. Performance increases from recent drivers (v158.45, for example) have been significant and only now is nVidia starting to focus on DX10. I think that when the real DX10 titles hit, we'll have much better performance than we see now.
P.S. : What I'm also wondering is how the heck I'm running 1920x1200 on a 1680x1050, 20.1" display.