There was a minimal performance slide when using the low-latency kernel for the DarkPlaces-powered Xonotic.
While some are reportedly seeing better gaming performance when using Ubuntu's low-latency kernel flavor, with the different hardware/drivers that I have tested, there is not any benefit under Ubuntu 12.04 with Linux 3.2. In fact for the first tests shown, if anything there's a small drop in frame-rate.
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