We have our beloved Stack modifier list. Lots of process could be accelerated with an internal cache system.
Having an Editpoly, an OpenSubdv with 3 iterations, a bend modifier with animation.
If our object is quite dens we can have low fps, because the Opensubdv is getting evaluated every frame, even nothing needs to be reevaluated.
If we collapse the Opensubdv we can get 20X bigger performance. Obviously a lot of times we dont want to get ride of the opensubdv, so....
3dsmax should be intelligent enough to store a cache of the mesh generated with certain modifiers, and not re-evaluate each frame if there is no change on its topology.