Weird. I just tried the docking training mission and thought it was a massive improvement, running VR Ultra + 1.5 HMD (this is with an i5 4960k + GTX1080). When it's running it works incredibly well inside a station and flying round the outside. It seems to switch back to asynchronous reprojection if the game is fairly close to making the 11ms frame time (it only does motion interpolation if your frame time is like 13+ ms). Overall I think it's really good but i've only tested it for 15 minutes
Tried the lastest beta that works on win 7 (+1080ti). Vive pro with 130% steam SS and x1.5 in game HMD quality in station (VR HIGH PRESET), smooth motion kicks in and give a smooth experience, you can notice glitches on the UI for a very brief instant but i find it very enjoyable
glitches are like the one from async space warp 1.0 on oculus rift