
the most important thing for me was that before my fix I was getting 120 FPS but games were lagging. After the fix my FPS dropped down to 60 but games / 3D effects are very smooth now. Foobilard, Neverwinter Nights, Morrowind, Quake 3 Arena. Everything is playable. On my 2nd machine with 16 MB radeon card I am able to run compiz and it's really smooth...
About the vblank option:
vblank_mode=0 glxgearsThis gives me around 300 - 400 FPS

[andrzejl@wishmasbell ~]$ vblank_mode=0 glxgears
ATTENTION: default value of option vblank_mode overridden by environment.
ATTENTION: default value of option vblank_mode overridden by environment.
2004 frames in 5.0 seconds = 400.800 FPS
glxgears is not great as a performance measuring tool.
Regards.
Andy