I've had to use the minimum framerate approach for tonks in order to keep the physics from falling apart on slower machines. Deadeye helped me test it out, and now physics works uniform on any framerate, whereas before on lower FPS machines, it would do weird stuff.
I'm thinking his method would do exactly what you are looking to achieve.
Also, if you want to find out what it will do ona faster machine, send me your CAP, and ill turn fram limit off and run it on mine... FRAPS it, and return the results.
~Sol