Your system is better than mine, and I run with everything on High just fine. So you probably have some kind of bottleneck going on that can be fixed.
Have you tried the following:
1) Try using Directx9, and install CCC for Warhead.
2) Try turning off one of the SLI video cards. Crysis is tuned for SLI/Crossfire, but this is a problem on many games.
3) What map are you using as your benchmark? Kagoshima is a beast, and ruins even the best systems. not the best choice for a benchmark unless you are the only one on the map.
4) Double check to ensure nothing is gobbling up resources running in the background. Antivirus, punkbuster, etc.
5) Defrag the hard drive?
1. I have been using DX9 and was using the CCC for Crysis which was versions 1.31 I think. I did not know there was one for Warhead, I'm thinking that was the problem. I installed that version which was 3.0 selected High settings and the Realistic shadows set my resolution for 1366x768 (don't ask, my HDTV is weird lol) I got on a server with about 24 people and I didn't see it drop below 30...I think it might have did the trick. The map I was on was Palisades, but I got into a pretty big fight where it was about 6vs6 lasers, lrms, and ppcs flying everywhere. It normally would have easily dropped into the low 20's. I am scared to try other maps though lol. Hopefully, this did the trick.
2. I have tried turning off SLI. I have even went as far as taking it out of my PC, and it had no effect whatsoever.
3. Kagoshima is the map I have been using a lot to see if there was any improvement that could have been the reason, but then again I was on other maps too and it did the same thing.
4. There is nothing gobbling up my resources in the background. The only thing gobblin up my resources was Crysis.
5. Defragmented my hdd's a couple of nights ago.
I will have to do some more thorough testing, but I am thinking that it was because I was using an older version of CCC and that is the reason I was seeing no improvement. There must have some newer configurations on the autoexec file.