I wonder whether Magicbean is playing on something under-spec such that one of the 2.1 optimisations hits a really slow code path? For older cards, some DX/OpenGL features are implemented in software on the driver.
That's why I suggested he raise it as a bug attaching his DxDiag (or perhaps even a ticket might be better as it could be something related to his machine). He's playing in 1024x768 which is a common laptop resolution so perhaps something to do with his laptop (i.e. internal graphics etc.).