First of all thank you to all for tips and tricks, with these I have been able to find the settings that work well for me so posting here in hope it will be helpful for others. This is with a cabled connection, not Airlink.
System: AMD 3900X, RTX 3070, 32GB Ram.
Oculus Debug Tool: FOV 0.7;0, Adaptive GPU Performance Scale: Off, ASW: Force 45fps, ASW Disabled
FS2020: VR; 80% Detail, all other settings on Ultra, Multiplayer, Live Traffic, AI Traffic all off.
Test area was Santa Barbara Municipal Airport. All planes tested worked very well apart from TBM 930. Planes that worked well were default and pay ware, some from Ceranado, and other steam gauge types but DA62 with glass cockpit also performed well so the TBM must be a bit of a resource hog.
I don’t fly airliners so don’t really care too much if they work well or not. If Asobo optimize more for VR to bring gfx fidelity in line with 2D mode and add in hand recognition (that works well in the Quest2) then we have a big winner from a VR perspective.