No Charles,
I'm getting 1040FPS without antialiasing but 850FPS under 2x and 700FPS under 4x in the default window. Unlimited full-screen VSYNC yields ~350FPS with 4x antialiasing.
Currently, my technique works excellent under XP for all the three VSYNC settings in both Classic and themed modes. Object and panel movement is perfectly smooth and absolutely FPS independent. All extra state changes have been moved out of the render proc to their proper places. MainWindow() and WndProc() have been changed to accommodate for the new technique. The scene now uses backface culling to half the load on the OpenGL rendering pipe. The look and feel of the scene remains exactly the same as the original. CPU load doesn't exceed 4% under any of the VSYNC settings.
Vista performance is however much, much worse. Classic exhibits half the XP's FPS rate and is totally unusable due to heavy dropouts under any VSYNC. I don't have Vista Basic on my installation for some reason but Vista Aero which I have works good with no VSYNC and 30FPS VSYNC but still has occasional dropouts at 60FPS VSYNC (one or two per horizontal run of the saucer with <- -> keybuttons).
Classic 7 performs as bad as Vista Classic however the FPS rate is as high as expected. Basic 7 is almost as bad as Classic. Non-VSYNC'ed Aero exhibits occasional droputs (3 or 4 per horizontal run) while 60FPS shows heavy dropouts even without Winmm-controlled Sleep() in the MainWindow()'s loop which is there to bring the CPU load down to a minimum. 30FPS works perfect under Aero 7.
All this shows that canonical OpenGL is heavily system version dependent under Windows, which is however no surprise it being DirectX' rival.
OTOH I don't want to give up because I don't like the idea of using a SetTimer()'s timer even if it's somewhat manually compensated. Neither do I like the idea of rendering being done in WndProc() or message handling being built around blocking GetMessage() calls instead of PeekMessage(PM_REMOVE).
It's too late at night (or early in the morning) to continue but tomorrow I'm planning to try and accomodate your compensation method to get rid of, or at least minimize, my dropouts. Keep your fingers crossed.
Why did they abandon XP? I guess they were unhappy about OpenGL's excellent performance on that "obsolete" platform.
P.S. In the meantime, is OxygenBasic thread-safe?