Yeh, wiped my AddOns folder, re-launched. Avg FPS went from 25-33 to 100-129 (vsync disabled).

Surprising how much damage AddOns can cause. All I had installed was Carbonite, LightHeaded and Auctioneer. A shame, I'd much rather have high-fps and low heat (fans are silent as I write this versus all of the goodies Carbonite provides.