That does sound low. The following rig gives me 60-110 FPS in space combat, and 25-60 everywhere else.
Core 2 Duo E6600 @ 3.5 GHz
Crucial Force 3 60GB SSD
MSI R6950 Twin Frozr III 1GB @ 960 Mhz core
I'm definitely CPU bound, and get a noticeable hiccup when dismounting my speeder, which is probably why space missions perform so much better for me.
Edit: Forgot to mention, those framerates are with all settings maxed at 1080p.