I am on v1.0.74.0 of the game and I am still experiencing a similar problem. My framerate problem hits me right from the main menu.
Like others, the first session I played everything was great and I was cruising along smoothly.
Then a couple of days later I started up the game and the framerate on the main menu was hovering in the single digits. I can quit and go back in and sometimes it's low, and sometimes it's high. I've seen up to 113fps (in fraps) on the main menu, but even then, when I actually start playing the framerate plummets, and like others have described, deteriorates as I play. Other times, the framerate is terrible from the main menu on. (teens to 20s). No fancy combat going on, just walking around Cyseal. I'm only 3 hours into the game. Just now when I went back into the game to check the version number, I was seeing 60fps steady with frame rate limiting on. When I quit 2 minutes before, I was seeing high teens. It's all over the place.
I've tried with and without CROSSFIRE enabled and there doesn't seem to be much difference. I've also tried with and without vsync, and with and without framerate cap.
My system is 16GB, i4470k cpu and dual Radeon 7950s in crossfire and an SSD. Resolution is 2560x1440.