Is there a bottleneck here?

hmmmm.... there should not be any bottleneck here... i have 4890 and i play pretty much everything at 1680x1050. anyway, g33 is not a nice board. maybe try to overclock the cpu.

Hold your horses there.

First of all it would be best to test this out and make sure there is not something else wrong.

Does the fps change regardless of graphical settings like resolution and what not?

Are you forcing anything in the control panel? What driver version are you using.

Also, what happens when you mess about with the dual gpu settings, I think that can cause issues although not sure.

Could it be your internet connection that is the one lagging? Or are there a ton of explosions happening when you experience these slowdowns?

You could check the background processes running. Check on Google what the process/application is for, and verify if you really need it running. Could also be a fragmented hard disk, though I haven't really seen a game slow down due to fragmentation.

I noticed that when i zoom in on the red dot sight when theres fighting in the background it goes down to about 35 in fps but when i zoom out its fine.