Indeed. My laptop runs GWX + MEP + MFM, (1400x1050 resolution), at 20-30 FPS, even with 24x antialiasing, 16x anisotropic filtering at the highest texture quality.
If I had to guess at the problem here, I too would say MFM is the culprit, not MEP.
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In the town where I was born
Lived a man who sailed to sea
And he told us of his life
In the land of submarines
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