The range of adjustability is not very wide, and crucially it only decreases from the default.
I generally prefer a wider FoV (and I sit close to the screen, which compounds that), which always costs me FPS in PC games. Always - as it must do if you think about what the graphics engine is actually doing: rendering a scene within the camera frustum. If you make that volume larger, you've got more stuff to process. In the new DOOM I lost 10 - 15 fps going from the default FoV of 90° to its maximum of 110°.
The progressive meshes and tessellation are very useful features to have in this regard, though, you're right.