Found a fix for Rage that worked for me. Prior to using it on 11.10 I was freezing up every few seconds in game, then fine for a couple of seconds, then freezing again and just repeating that. Go into your Rage directory in steam\steamapps\common\rage. Find "rage.exe". Right click on it, go to "Compatibility" tab and set to the Compatibility Mode to "Windows 98 / Windows ME". This has completely removed the freezing for me and I can play just fine on the 11.10 preview 2 driver.
Specs:
Windows 7
E8400
4GB DDR2
ATI 5850
Might work, might not... worked for me however so wanted to mention it just in case it helps others. My CPU is still at 100% rock solid however, but no more freezing and my graphics card isn't constantly at 0% (more like 60%).