there's a post somewhere, it'll be on either page 1 or 2, its quite new, where somebody else was trying different ways of speeding the game up. the topic is "two seperate slow down issues", you should look there, it was quite detailed and it worked.
incase you can't find it, i said in it (i think it worked) you just make sure that the fog is turned on, the Set Camera View only goes a couple of hundred behind the fog, then anything that is in the fog (that you wouldn't see anyway) you hide, until it nears the end of the fog and you show it again.
you just need to come up with a way of finding the distance objects are away from you.
you could also expand it so that if an object is between 100 and 260 degrees from you, you hide it, as it would be behind you so you can't see it anyway