I played at 40fps for a couple hours totally confused since I was running 60fps before 1.0.7 patch.
Then I figured it out.
Pre Patch-1.0.7: Borderless Windowed Mode would break SLI framepacing so it said 70fps but was a stuttery mess. If you turned on in-game vsync on borderless windowed mode however, you were locked at 40fps for whatever reason.
In full screen mode with SLI had screen tearing without in-game vsync but was smooth. With in-game vsync on it showed 60fps but was a stuttery mess.
So if you had a SLI setup, you ran full-screen mode with Vsync enabled in the Nvidia control panel. This was the only way to get smooth gameplay with no screen tearing.
Patch 1.0.7: Borderless Windowed is still a stuttery mess in SLI showing 70 fps. If you turn on Vsync on borderless windowed mode it now shows 60fps but is still a stuttery mess with broken frame pacing.
In fullscreen mode with Vsync enabled in the Nvidia control panel, you now are locked at 40fps. In fullscreen mode with in-game vsync it also shows 40fps. Both of these behave the same as pre-1.0.7's borderless windowed mode with in-game vsync.
You now must turn off in-game vsync, turn-off Nvidia control panel vsync, and run with a 60fps cap to get proper SLI frame pacing at a 60fps range of performance. I haven't checked to see if there is screen tearing below 50fps, but if there is, it looks like this patch basically broke SLI completely. You would no longer be able to have screen-tear free 60fps gameplay with SLI. Bleh. Gonna test some more tomorrow with higher settings to see if that is the case. If it is...I'm gonna try to find some way to roll-back to 1.0.6.