Only that cloth really, other cloths/drapes/flags around the game react interactively. The cloth covering the vehicle in my gif will always fall/move the same way in that segment as the movement is pre-calculated as mentioned above
That doesn't mean it's not an fps killer though because the framerate halves. At 2560x1440 I'm pulling around 60fps in most other areas with advanced PhysX enabled, in that segment it was in the low 30s! It's all the particle effects floating around that bit in lighting, smoke and shadows - Those are all realtime.
Thanks.