I can deal with low res. It beggars belief a 3D PC game would be released without the ability to choose your res, (bloody entitled PC gamers, wanting features from the mid 90s!) what I can't deal with is locked 30 fps.
RE5 (which is an example of an excellent PC port) offers the option between 30, 60 and unlocked. I can tell the difference between each one, 30 being unplayable, 60 being playable but a bit jarring, and unlocked being master-race-smooth-god-knows-how-many-FPS, well beyond 90 at least (I stop being able to tell the difference beyond 90).
Maybe I've been spoilt, maybe I'm 'entitled', but smooth and high framerates are no longer a luxury to me, they're essential.