Does using texture replacers that have really good textures drop your FPS alot? I can understand why shaders and stuff will but im not sure about textures.
Psyringe did some great benchmarking a while ago. http://www.gamesas.com/?showtopic=877881&hl=
From what I have seen, any decent graphic card can handle basically any texture without a significant loss of FPS. (unless it's some insane huge texture at 4096x4096, which is rare for MW)
Adding fancy MGE stuff will, of course, be more demanding.