I'm in the crowd whose game worked just fine before the new patch. The only problem I had was missing banter. No lags, no CTDs, no black or white screen, cutscenes transited smoothly from action to video and so on. After the patch loading times at least doubled. Or even tripled. Sometimes I run out of patience and close the game before it's loaded.
Also, even if manage to get it loaded, I get severe lag. Seems to be on audio side on things. In combat the combat sounds activate when the mobs are already dead. Cutscenes get stuck at the beginning for several minutes with silent characters, and seem to proceed when the sound is loaded.
Repairing the game didn't help. Haven't tried to reinstall it yet, since I'm getting new videocard later this week. Maybe it will help without reinstalling the game.
My specs just for statistics.
i5-3470, 3.20 GHz
8 GB RAM
Win7
GeForce GTS 450
I know, videocard is below recommended(still above minimal, though), but before the patch 2 l had no problems, I played on medium+high quality meshes and it was super-smooth.
Will be getting GeForce GTX 660 in several days (it is in shipping now), so we'll see how it goes. But something tells me, that videocard is not really the problem, since the game used to work just fine before the patch.