Bare with me; I'm completely unfamiliar with computer gaming.
I looked up what you said, since I didn't fully understand it, and found this:
"Show framerate so you can see how your PC is performing.
\cg_drawFPS 1 (choices are 0,1,2,or 3 where 0 = off)
- At a minimum, you need to try to be above 60FPS so that you have not visual choppiness. Reduce textures, shadows, lighting etc. to get above 60 if possible: "
What's the difference in typing a 1, 2, or 3?
I'm too busy to try the game much at the moment, so I'll followup with more helpful info at a later point, here and in my COD4 thread, but for now I'll just say that with the game's automatic "optimal settings," and with AA manually upped to 2x and res upped to native res (1680x1050), it runs smoothly. Course smoothly is subjective and vague, so I'll try out the frame rate thing soon.
EDIT: I just tried it. Entering 2 or 3 merely gives more technical info I don't understand and I assume you're not asking for. So assuming "\cg_drawFPS 1" is all you need, what frame rate info is most meaningful: the frame rate range in parenthese or the the single frame that comes after it?