I can't believe it, it really works!
You know what else helps, turn the music volume to exactly 63. 62 or 61 will not work; it has to be exactly 63. The game runs @ 60 fps now, honestly

OMG u guise! IT WORKS!
In all seriousness, I don't think that it actually improves the framerate. It moves the HUD around more than usual giving the illusion of an improved framerate. If you actually sit and think about it, if Crytek could squeeze more out the PS3, why wouldn't they? They are, after all, renowned for their cutting edge visuals.