I updated to Sequoia and gave it a try. When I logged into my Act3 game in the lower city harbor everything was running like normal. I thought maybe the upgrade fixed it.
Unfortunately, as soon as I engaged in combat (Steel Watchers), everything slowed down to a crawl again and remained as such even after combat ended.
I did see in another thread that there is a way to downgrade to patch 6 via a beta that was made available, but I'm not sure if it's worth the risk/PITA over just waiting.