Dammit, my laptop was using integrated graphics instead of my Nvidia card 😛. My problem is fixed!
Added two comparison screenshots
I've got the same problem. I generated a new world in 1.5.1, fps is around 90. Opening the same world in 13w16a starts with a fps of about 30 but quickly drops to almost 10.
When I compare the pie chart you see with shift+F3, root.gameRenderer.level.terrain takes up the majority of the time (from 30% to about 72%). Changing graphics settings didn't seem to change much, even on fast graphics it eventually drops to 10 fps.
I've got a GTX 660M, Win 8, 1 GB memory assigned.
Minecraft is running with your integrated graphics card. If you right click MinecraftDev.exe, do you have an option "run with graphics processor" > "High performance NVIDIA processor"? That worked for me. You'll see NVIDIA Corporation as opengl_vendor in the snooper settings if it worked.
(BTW, you could also try this for modpacks like Feed The Beast)