Fist of all I don't use an intel video card to place (since my switched over to an ATI).
Have you played around with the FixedVShaderLimit? 275 was the number that I found worked best for me and has subsequently seemed to work for other, however a crossover dev indicated that it could only need to be as low as 262. I think it's machine dependant so try lowering that number (you will have to do it in small increments and test it each time) and see if the graphics still stay fine at a lower number, that would increase performance a lot. Of course go too low and you will start getting texture stretching etc.
I personally don't play with UseGLSL in the registry (as in, I deleted the registry) because it doesn't actually fix any graphics problems it just makes the graphics look a lot better (for me), but that also comes with a bit of a performance dip. So if you can handle glowing things not being super glowy, get rid of it.
Those are the only two tips I can really offer you. Just play around with those settings and hopefully you can find a combination that works for your machine.
(When you're testing the FPS test it in a map with an open field or something, not in a major city. Major cities are unfortunately always going to give you a low FPS, there is simply too much happening in such a small space xD.)