So I've clocked about 2 hours in it now and I think I'm confident in my experience. First, my specs, 980ti OC'd an extra 300mhz, 4670k OC'd to 4.5ghz, 24gb ram, installed on SSD. I unlocked the framerate only and have all settings maxed on my 1080p TV. FPS overlays are not working but I do seem to get 60fps pretty consistently. I do get microstutters but not that bad. I haven't had the game lock up on me yet and driving around in the batmobile does produce stutters, but it seems to be more of a general framerate drop more than anything. Also worth noting, locking the game at 30fps, I still get microstutters but is actually much smoother than most other games at 30fps.
I don't think I'm getting it nearly as bad as everyone else and have definitely played worse ports (watch_dogs). I'll count myself as a lucky one. It is undeniable the missing effects though. I would like to play a PS4 version to compare directly. Maybe I'll redbox one over the weekend just to play with.