The Battlescape works well enough, until lots of smoke appears OR (and this is odd) I reach the 2nd or 3rd floor of a UFO.
On the Geoscape, any zooming is painfully slow, and when I intercept airborne UFO's I have to wait a good 10 seconds before the intercept box is brought up. I max out at 4500 CPU cycles and use a frameskip of 3. 65 to run X-Com, but my Mac Powerbook (1.0Ghz, 768 Ram, OS 10.3.9) handles it sluggishly at times.