the framerate keeps nearly the same but it depends on which effect you choose. say the 1.1 versions aren't noticable at all (at least on my system) and the 2.0 versions can cost 5-10fps...
the skycubes are 256x1536 which should be supported by all required cards, and hopefully there will be some highresolution skycubes soon:)
use d3d_shaderversion to check which shaders are supported, then start or don't start skySystem2.
this is up to you, the developer, since you have more freedom for such decisions.
thanks for your interest