I had problems at first getting it to work properly even though I did everything according to the original post. Didn't notice any improvement at first try.
Then I read somewhere that the cache file in the game folder could be the problem.
So what I did was:
In steam - Right click on the game name under your Library, then choose -> Properties -> Local Files -> Defragment Cache Files.
Went from ~25fps to 65fps average in soloflight, pretty impressive boost I'd say.
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