Enabling shader model 3, just through ini settings, probably isn't going to do anything. Tried that myself for Oblivion, FO3 and FNV. The engine still uses shader model 2. Replacing the .sdp package will give you performance, but may cause your ENB to mess up; as it did for me.
For the stutter, if you have Mod Organizer, you can seperate your mods into different folders (even the vanilla .esm files and .bsa files), make a ramdisk, move a couple of the folders to a backup directory, copy them to your ramdisk and then use symbolic links to make mod organizer look in your ramdisk for the mod files.
It has the same result as if you were to modify the archive list in your .ini files to look at your ramdisk for .bsa files, but without the character limit.