The game now uses, at the same graphics setting, about 50% more gpu power. At least that is what I observed. I suggest first deleting the entire kf sys folder, then get k-lite codec pack, update your Micro$oft Visual C++ (I know it's a pain in the ***, but meh) and last but not least take your game down about 2 notches in graphics quality. I have a gtx 260 which runs it just fine on highest, but, naturally, that uses 50% more processor power and I'm not fully sure why, so I'm running on high, not highest. Game ran just fine for me and my gpu load went from 98% to 40%-50%.
Try that, let me know how it works.