There is a sudden dramatic drop in frame rates when I'm getting hit and shooting myself for a split second, but that has it's consequences. It happens most when I'm shooting fusion rifle or being hit by one.
EDIT: It seems like it [b]rarely[/b] occurs now. Temporarily switching to a wireless connection on the PS3 the other day did make it worse but was still present when wired. I blame At&t for aggravating any issues I've had with sub-par, restrictive equipment as well with Uverse.
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I've noticed this too, especially when dropships are firing a lot at me. It slows down enough for me to headshot almost every guy. When I look away from the dropship laser beams the game goes back to normal speed.