PC: Better performance through Steam than offline?

So I was messing around with AE on my laptop, and to my surprise, it ran the game perfectly, getting a consistent 90fps on the benchmark. I decided to try the game offline by running the SSFIV.exe directly instead of through Steam, and for some reason, the game ran hella slow, averaging about 40fps. Just wanted to know if anyone knew why this happens.

Perhaps the GameOverlayUI is doing something freakish. Try it in Steam with “Steam Community In-game” disabled and see what happens.