Ok some quick figures and pics for you, sorry I don't have time to do much tonight, got a busy few days ahead of me.
FX60, 2gb 3200 2/3/2/2, DFI Expert, 2x7900GTX BFG, X-Fi Elite Pro, BFG PhysX.
1280x1024 to lessen the load on the graphics cards, otherwise high quality settings.
Gunshot PhysX ON :
Gunshot PhysX OFF :
Explosion PhysX ON :
Explosion PhsyX OFF :
Now I know the pictures aren't taken at *exactly* the same time but I watched the counters carefully and the differences at each stage are about the same. As another easy test, throwing a grenade directly in front of me with the PhysX on drops to 50 fps, with it disabled during the explosion the lowest was 55.