Yeah...there seems to be issues with the FPS and it even get choppy. Someone gave me a good idea and it does help a little...in the options you can turn off effects by other players and party member as well. I have mine set at showing ALL of mine, SOME of my party members and NONE for others.
FATES are are just a SPAM fest for lancers it seems and melee...I consider myself a pretty good ARC (lvl 27 currently) and I still have a hard time targeting mobs with my filter set at enemy only. Once a while I can get something targeted and get some "Quick Knocks" off and wreck stuff up but it is very hard for non-melee player in a fate I agree.