Yeah, upping the pixelation values does help quite a bit in retro racer. In fact, I was able to get what looked like 30-60 fps even with 4x objects by upping the pixelation to maximum.
The book app runs about 10 fps even up close. The framerate seems pretty consistent throughout the demo. Keep in mind, these fps are ballpark estimates.
My impression reading over some other threads was that graphics 2.0 has not yet been optimized, especially on Android devices, so hopefully there are performance improvements to look forward to.