I tryed the lastest version of 1.8 pre release, at 1.7.4 my fps are 200-400 but when i tryed the lastest version it was like 40-60 fps
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Please force a crash by pressing F3 + C for 10 seconds while in-game and attach the crash report ([minecraft/crash-reports/crash-<DATE>-client.txt|http://hopper.minecraft.net/help/finding-minecraft-data-folder]
) here.

This is the forced crash data, i attatched

Same Problem here. Very bad performance on the Snapshots :I

Same Problem here.

Duplicate of MC-45458

I think is the compatibility profile and the chunk loading, try this video settings:
Graphics: Fancy
Smooth Lighting: Minimum
Clouds: OFF
MIpmap levels: OFF
Use Vbos: ON
Render distance: 10 Chunks
Max framerate: Unlimited
Particles: Minimal
Use Vsync: OFF
Alternate blocks: OFF
And also update to the new 1.8-pre2

Issue still exists in the newest Minecraft version. $300 Radeon GPUs (eg. R9 280X) perform worse than $150 GeForce GPUs (eg. GTX 750 Ti).