FPS is about 4000 on a blank project. In about 3 minutes I get a huge dip down to 500 FPS. Then after about a minute it will increase to 4000 again. This cycle goes on and on.
This sounds like a thermal throttling issue.
Use CPU-Z and GPU-Z to check the clock speeds and temperatures of your CPU and GPU while your application is running.
If the clock speeds keep dropping and climbing, that means it's a hardware problem and your CPU/GPU are overheating.
I think you can safely ignore uncasids advice, seems like yet another Vista basher...