Ummmm.
How did you get light bloom to have no fps hit?
I know that answer... but it is based on some assumptions from my side...
FS Engine ALWAYS renders all effects regardless of the video card... the framerate cutter just removes anything that takes too much CPU time.
If you set some switches on (like light bloom for example) the engine just tells the hardware to render the effect instead of the CPU... which in certain cases will give better FPS.
Well enabling bloom will require multipass rendering. It is impossible that rendering the same things more than once improves performance.
The FS engine has always been a little weird... some switches have a different effect that what they advertise...
And don't forget that a GF6800 has hardware light bloom (FarCry was the first game to really use that feature)