I really HATE my first post on this forum being a complaint, but I have exactly the same issue that you guys are referring to.
Yes, my system is rather old, but it was able to run standalone BS2 with reasonable FPS. I had the FPS limit set to 30 and usually, I've experienced no serious FPS drops (unless in big missions).
Even World Beta worked well (with BS2 and P-51 modules). I don't know exact framerates, but most of the time, it was perfectly playable.
Now, with 1.2.0, I can hardly get above 20FPS, sometimes I'm getting as low as 10FPS even during the simplest missions (both in BS2 and Mustang).
I tried everything to fix it, and nothing helps. DCS is now just unplayable for me :(.