I had performance problems with this on the 4870X2, the 5970 and then again on the 7970's in SLI. For whatever reason when x264 video is playing AMDs cards typically require the memory speed to run faster than the lowest power setting. I have never understood why sometimes that isn't the case, I never got to the bottom of why sometimes it didn't need that memory clock speed but in a lot of cases it really did, especially in multiple monitor scenarios. Initially all these cards I had came with the memory set as slower, and I had a lot of performance problems and even crashes associated with the power saving.
So in all cases I ended up running a custom profile that increased the clockspeed to maximum so alleviate the problems I was having, which fixed video and windows stuttering in general. I don't think it should work this way but it has on all the AMD cards I have owned in recent years and its one of the many bugs I raised with AMD support. Presumably they haven't fixed it since people still have issues in and around Windows 2D and video with memory clocks.