I'm actually on the fence about buying one of these - want a small laptop that can game and this *seems* to fit the bill, but the FPS that you are reporting I have seen reported for those games in other places.
There's one thread I found with Google - apparently the Steam forums are overloaded with complaints as well. I don't know how much help you will find with that thread, but you aren't the only one having issues.
Making me think twice about getting an m11x. Sad, as it's such a beautiful machine.