shaders, Anti-aliasing, shadows, post process and lightning are the biggest performance killers. try using nvidia control panel anti aliasing instead of the in-game one. experiment with the settings. lowering lightning and shaders worked wonders for me =).
You can get an ATI radeon 6870 for 160 quid.
if you got the powersupply you can get my PC for 500 easily.
i got my game vsynced stable 60 fps at 110 fov
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