The menus/character select seem to be fine. I can navigate those with no lag at all. But when a match actually starts up, it seems to be running at a locked...sub60 fps. No matter what settings I choose (1366x768 nothing turned on vs 1080 with shadows and 4xFSAA), the game seems to be running at the exact same speed in matches. I'm not sure if the game is stuck at 30fps for everything and so matches are somehow being forced into 30fps or what, but something's off.
EDIT: I think that's what's going on. I'd been going straight into training mode, so I never saw character intros. Just tried a regular versus match...and the intros are running at normal speed at 1080/shadows/2xSSAA.
Continuing from this, I just remembered that Steam has an FPS counter now, and I found that in battle, the game is locked at 40FPS. Any idea what could be causing this? Game looks so good, even at 2/3 speed.