Status so far, for newcomers:
- 10.10.2 (as of 14C81h) doesn't fix the problem. It seems things improved a bit, maybe Apple is doing some experiments, but it's far being properly addressed.
- Apple is probably aware of the problem. Multiple posts confirm this, and I've exchanged some emails with a friend, senior programmer at Apple, who told me that it's likely they're working on the solution. But maybe they're not.
- Sometimes the system seems fine and responsive but it's an illusion. Over time it invariably degrades, immensely, to the point of forcing us a reboot, or insanity.
- Some people claim that apps running it the background make a diference, namely those that interact with the Finder or post icons in menu bar. I've found that reducing the number of app icons on the menu bar helps a lot. Keep them to a bare minimum. But the it doesn't fix the issue.
- RAM isn't the problem. I had the problem with 8GB and I have the problem with 32GB. Multiple posts confirm this as well.
- The GPU resources never seem stressed, I've been using some tools to look into it (iStat, OpenGL Driver Monitor from Xcode's Graphic Tools).
- Using a tool like SwitchResX and changing the screen resolution to 2560x1440 without HiDPI, that is turning retina off and using a scaled resolution, mostly fixes the problem, which is scary. And it's also horrible for your eyes, after you've been in HiDPI mode. But the system becomes usable, and work gets done.
- Reducing the exposé duration setting helps http://osxdaily.com/2012/02/14/speed-up-misson-control-animations-mac-os-x/ but it doesn't solve anything.
That's it.
4GHz i7, 32GB, M290X, dual monitor, 10.10.2 (14C81h) here.