I also have the RTX 3070 with an I7 10700K, both slightly OC, and 32GB RAM. On my machine I can see a real improvement with this new patch. I also updated all, Oculus Beta flag, NVidia last drivers, etc.
Yesterday I was able to fly with ASW ON locked 45fps and had very few stutters, only the usual ones when loading the scene in front of me with a rapid plane.
I only use light plane VR fps friendly like the Piaggo, the DR400, the MB339, the CT Superspeed (from memory), the F15 model C, etc., and yesterday I discovered the small Cri-Cri. What a blast in VR! A really fun plane. I tried it around Gibraltar, the Cairo Pyramid, Courchevel, etc. very fun.
When the scene or the plane are too heavy for my machine I just remove ASW (CTRL+2) so I’m lock to 45fps and can keep it all long with GPU usage not raising more than 95%. If I have headroom I’m back with ASW ON (CTRL+3). This is a big improvement versus pre-patch.
By the way, the “water effect” is the ASW 1.0 problem, so I encourage you to vote below for Asobo to implement the ASW 2.0 which remove mainly all artifact: