Magma flow is the last level of magma above SMR, and I don't think there is any actual flow, and thus not any FPS hit, from it.
My last fortress ran for 18 or so years before I got bored with it. I'd opened the candy pipes and killed all clowns that emerged (not quite true, a few decided to settle in my access tunnels), but never bothered to descend through them (as far as I understand, there isn't really anything interesting except combat down there). The FPS was quite good, I think it went down to 30 or so.
I've got a new powerful computer, which probably helps, the SSD disk would help with any disk cashing. Apart from that, I used the following:
- Pocket universe (island) modified somewhat with extra savagery, lots of caves, lots of volcanoes. I don't think any of that affects FPS.
- 250 years starting point, culling of historical figures. Double amount of megabeasts, semi megabeasts, and titans.
- At war with goblins from the start (my civ dying). In range of two black towers. This resulted in goblin sieges once-twice per year. A number of undead sieges the first 5 years.
- No other races, since they'd been killed off (as happens usually, with the parameters I use).
Embark size 3*3 to guarantee at least one candy pipe (I did get 3, one of them huge, something like 40 levels high).
- Captured and bred cavern critters, but mostly they were caged. Probably around 100 non caged animals (sheep, dogs, cats, chicken, blue peafowl, turkeys, cavern critters, like rutherers).
- Pop cap set to 50, with strict pop cap set to 80. Didn't get above 60, though, since my dorfs were lousy breeders.
- Starting at a volcano, so I had access to glass from the start, but no metal except goblinite.
- Reduced the amount of junk by sending worn clothing and trade junk off with caravans, but didn't go to any extremes.
- Managed to slow the build up of food, but probably had around 10000 units anyway.
- One reason I got bored was a treesplosion. I started in a sparsely wooded area, but by the end both the surface and all three caverns were overgrown with trees, and the first cavern also was more or less covered in spider webs (which I didn't collect. I'd built a silk farm, but stopped it after a while when the amount of unharvested GCS silk became huge. Since I had GCS breeding anyway, there'd be no problem restarting the farming if needed). The tree clutter also gummed up the secured cavern entrances.
- I generally used QS stockpiles, with exceptions for still and thresher source stockpiles, food stockpile, seed stockpiles, trade junk and worn clothes stockpiles (since I wanted to be able to move the stuff in bins to the trade depot for disposal). Enemy bodies were disposed of in a magma pit, which other refuse went into a QS stockpile. The bones were made into trade junk.