Fixed FrameRate and Frame Smoothing do not work

Don’t mind the poor video quality, as my screen capture wasn’t working to show the problem. Here’s what particles and physics objects look like with 'Use Fixed Framerate" turned off, versus turned on in 4.10. I also noticed after uploading the video that the actual in editor camera movement is faster as well. Try setting the framerate to something crazy like 15 to really see the problem.

Video