Yep, massive problem for me as well in. Shooting rockets in Black Shark DCS World 1.2.2 creates a slide show. Just shooting off a pair of rockets causes a massive frame rate hit as soon as they hit the ground. BTW: BS2 1.1.1.1 has no problem.
I'm running an Overclocked Core i7 920 with an ATI 5850. People posting in this thread should post their machine specs. It might help narrow down the hardware configurations that are susceptible to this issue.