I've been doing some system upgrades over the past few weeks and have run into this issue. No matter which NVIDIA card I try, my frame rate is capped at 46 FPS. It never goes above that. However, swapping in a lower end ATI card, with maxed graphic settings, I'm sustaining 230 FPS. Sync with refresh rate is Off.
My current setup is an Ivy Bridge i3 CPU, 8GB RAM, and a GTX 660Ti. This rig has plenty of power to give high frame rates. From lowest to highest settings, it sustains 46 FPS. I have tried a GTX 550Ti with similar results although sometimes FPS would drop. A GT440 on lowest settings would max at 46 FPS as well. On the other hand, an ATI 7770HD sustains 230 FPS with this rig.
The picture quality I have with the ATI card is not very good on my monitor. Text in particular is not well rendered. It also cannot run at 1920x1080 for very long if at all (Bad card, old monitor, something else). On the other hand, the smoothness of the extra 15 FPS (monitor limits to 60) that I see is a huge improvement.
Does anyone have any ideas why this is or how to fix it?