How exactly do you change FPS? When I enter config.exe the value is locked at 30 with no way to modify it.

EDIT: Nvm, I found it.

You don't. The 'Framerate' that is set to 30 under AI Options does not alter true FPS (though it shouldn't be locked). What it does is to increase the AI ticks, which effectively speeds up EVERYTHING in the game, and I do mean EVERYTHING -- animations, quest timers... everything. There should not be a need to alter that from the default. What you can do is to set the 'Speed Adjustment' to automatic, which is a feature that turns on and off certain graphic and audio features during any periods of frame rate drop. These can be customised, but you are probably best advised to use the defaults.