Performance hit is pretty hard to justify on my 1250MHz 7950, for something that is about immersion it fails miserably. The shoulder force field, hair flipping or jumping for no apparent reason, only one char, only one ponytail, 20~ fps or worse when it's zoomed in on, total immersion breaker in cut senses when it starts to stutter. Hair changes color, white, jet black, brown, blonde, I've seen it all.
It has a long way to go to get the the level of PhysX, both in performance, effect impact, immersion, and quality.. They shouldn't even really be compared since it's like pee pew league vs pro.