Just saw and tested this, I love this look! I can't get it to work on trees or walls without animations though. Is this possible like in this video? At 3:50. Or something that makes textures look crooked. Tried rounding stuff, nothing really worked out.
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You have to turn it off when the object isn't near your camera view. You wont notice this from a distance anyway. Without turning it off though, around 15 highish poly animated models(8k+tri) onscreen at once, the cpu is 10%-15% increase and fps drop is up to 15-20. I don't know if its the same with non animated stuff, I can't get it to work to test. Haven't tested with low poly models either. Should be pretty good performance unless your making a game with 50+ enemies on screen at once, which would probably still be okay with lower poly's and good optimization techniques.
I'll just use blender and move uv around for crooked textures. I gave the buildings a tiny animation that move sideways, now to just stop it when camera isn't moving much. Pretty sure this isn't the best way to do this but it still works lol. Will definitely use this to create ps1 style game after my main game.