So for some reason my gtx 590 is under performing all of a sudden. I used to be able to play games like BF3 and Starcraft 2 maxed out on ultra settings without any problems. Now When I try to play them on  medium settings my system is chugging. I ran a 3dmark 11 test and my numbers were way lower then they should be as well. They should be around P9000 and Im getting around P3000. Can anyone help me get my card performing again?
 
Operating System: Windows 7 Home Premium 64-bit (6.1, Build 7601) Service Pack 1 (7601.win7sp1_gdr.150427-0707)
Processor: Intel(R) Core(TM) i7 CPU 950 @ 3.07GHz (8 CPUs), ~3.2GHz
Memory: 12288MB RAM
Card name: NVIDIA GeForce GTX 590

Here is what I would do...
 
#1 Check all hardware for overheating.
 
#2 Remove all monitoring software... MSI Afterburner, Precision X, HWMonitor, Speedfan, etc.
 
#3 Remove windows update KB2670838 if installed.
 
#4 Perform a clean boot of windows.
 
#5 Perform a clean installation of video drivers.

1. Uninstall Precision X/Afterburner if installed, make sure to select "no" to saving profiles if asked.  Reboot the PC now if you had to uninstall PX or Afterburner.
2. Download & save graphics driver 350.12 to your desktop. Run the graphics installer located on your desktop once the download is complete. 
3. Select custom advanced install, under custom installation options uncheck all options except the physx system software, if you have a 3D capable monitor and would like to use 3D at some point please select both 3D options, check mark perform clean install, then click next to install the driver, reboot when asked.

#6 Rerun 3dmark to see if your score has came back up to normal.

Sajin
Here is what I would do...
 
#1 Check all hardware for overheating.
 
#2 Remove all monitoring software... MSI Afterburner, Precision X, HWMonitor, Speedfan, etc.
 
#3 Remove windows update KB2670838 if installed.
 
#4 Perform a  of windows.
 
#5 Perform a clean installation of video drivers.

1. Uninstall Precision X/Afterburner if installed, make sure to select "no" to saving profiles if asked.  Reboot the PC now if you had to uninstall PX or Afterburner.
2. Download & save graphics driver  to your desktop. Run the graphics installer located on your desktop once the download is complete. 
3. Select custom advanced install, under custom installation options uncheck all options except the physx system software, if you have a 3D capable monitor and would like to use 3D at some point please select both 3D options, check mark perform clean install, then click next to install the driver, reboot when asked.

#6 Rerun 3dmark to see if your score has came back up to normal.

So I did everything you recommended.
 
Checked my GPU temps and at load they're at 86-87 degress.
I removed precision and its profiles from my comp.
I didnt have that windows update installed
I ran a DDU tool to uninstall my display drivers in safe mode
Finally I ran clean install of 350.12. However under custom install there wasnt an option for physx system software. Only disaply graphics, some 3d options and audio drivers. I also made sure to mark clean  install.
 
I ran a new test of 3d mark 11 and my results were the same P3506. Heres the link to my test (couldn't paste the url, but the path is /3dm11/9879886 from the 3dmark site)  The physics score is high but my graphics score is low.
 
Any other ideas? Also I made sure I wasnt using a power saving profile on my comp as well.

Looking at my results and similar results from other people with my cpu/memory/gpu it seems the only difference is memory bus clock. My memory bus clocked in at 864 mhz while other users with my rig are clocking in around 1600-1700 mhz. 
 
Do you think this could be the problem? And if so how do I go about increasing or changing it?

So I installed Afterburner and ran BF3. my gpu1 core clock immediately dropped to 315 mhz and then would sparadically drop between 103-315 mhz. While my GPU2 core clock was holding steady at 630 mhz. I noticed that the temp on my GPU1 was also heating up to 100 degrees, which Im sure is the reason my core was dropping.
 
Doing some more digging my GPU1 fan speed was set to zero, while my GPU2 fan speed is cranked at 97. Perhaps my fan is toast? Or maybe theres some setting where its stuck at zero?

Thanks for your help. This card is a few years old so it definitely might be due for some new thermal paste. The fan is definitely spinning, so Im guess that it might just need some more paste. I'll take a look and further investigate, but it might just be time for a new car