Yep still laggy. I think if the chrono cam wasn't running it would sniffinactialy improve performance.
On the moon the game in the current version witch is ... 49900 it is vastly faster than it has ever been for me, but I believe this is due to the lack of environment stuff and flora.
The chrono cam works serverside, not clientside. Your client will not have extra lag because of the chrono cam running. The problem is probably that the game isn't optimized yet, so it eats a lot of ram, cpu and gpu. Your system might just not be up to spec to run the alpha smoothly. The reason the moon runs smoother might be that there's fewer polygons on it.