Okay so I'm putting this out here because I managed to find a fix for my fps drop today, and hope it can help others as well. I have a gigabyte gtx 970 g1 gaming graphics card, i5 4570 3,2ghz cpu, and 8gb ram so the game, given the fact that it's 13 years old should run flawlessly. Unfortunately I have noticed random fps drops from 300 down to 130 and below which causes my game to freeze up for like a milisecond. Just enough to bother me but not to hinder my performance.
So the fix I managed to find is to use 8xMSAA from the settings. I found this weird because anti aliasing usually eats up all the performance in any other games. I also locked fps down to 180 in the console ( command is fps_max 180 ). Now the game runs smoothly like it is supposed to be running.
That's about it, hope someone finds this helpful. ^^