OK, so I will add my voice to the chorus of displeased gamers. The new patch TOTALLY anol [censored] my game and didn't even have the courtesy to give it a reach around. I have been messing with different ways to roll back to 1.06, and finally figured it out. Cannot play the new DLC, but hey, at least I can play the rest of it.

1) Delete your game data. The DLC data can even stay.
2) Insert disk, skip update. let the game install itself, then quit.
3) Patch the game. If you watch, it should now download two patches. The first patch is the 1.06 fixes, it is 293 mb. wait for that to download and install. when it hits 100% it will switch to the next patch. Cancel the operation and the game should be back to good ole' 1.06.
4) Skip the 1.07 update until you are ready to play lonesome road.

This obviously won't help with lonesome hearts, but it will let you play for longer than 20 minutes without the framerate getting so lagged that you cannot play. I have checked all the worst spots that my game was encountering, casinos, Caesers Legion Camp, etc. with minimal issues that are totally playable.

Now, this crap shouldn't be necessary in the first place, but maybe it will help until Bethesda and Obsidian un-f*** themselves

On further testing, the GRA and Lonesome Road seem to work fine with the patch 1.06 downloaded in the steps above. I only tested a short ways into lonesome road as I am working on the other expansions still, but all seems well again in my Fallout New Vegas World.

I have tried this and it seems to have improved my game as well. I will post again if the situation changes.

Thanks for the tip

Spoke too soon. The game worked great yesterday, but buggy as hell today. Every time a used a gun from courier's stash in VATS, the game would lock up.