For me, FRAPS is not reporting min FPS as low as the game itself....with ded PhysX, my min according to FRAPS is 32FPS

i7 920 @ 4.0GHz, uncore @ 3.6GHz
6GB DDR3 @ 1600 7-7-7-20-59 1T
295 GTX (GT200 240sp x2) @ 650/1400/1200
8800GTS 512MB (G92 128sp) @ 670/1674/972
300GB Velociraptor for game & fraps, OS on 80GB Intel X25M

Here are my results:



And the individual screenshots:

CPU PhysX only


PhysX and graphics on 295 GTX


Graphics on 295 GTX and PhysX on 8800GTS


PhysX disabled