At first I was thinking about using KD-Trees for static geometry, and BIH for dynamic objects, but BIH is already that blazing fast, I have a hard time convincing myself to have a need for KD-Trees.
I've created a test scene. Just some static objects made of triangles, very simple shader, primary rays only (no shadows, because they still use that old mono ray path).
Version 1 has 3k triangles, version 2 has 760k triangles (yes, no typo).
@640 x 480 version 1 renders at 10 fps, version 2 at 6-7 fps.
Here are the Pictures:
