I had this problem with arma 2, 50% gpu usage, then I would overclock to 4.5ghz and get 99% usage and smooth framerates on my desktop. The Overall cpu utilization was fairly low on most of the cores too. But if the poster above is correct then it might not work. (perhaps a bug?) I am on a gaming laptop now and can't overclock the cpu to test right now so a bit dissapointed it's so choppy with this low gpu usage. Hope it won't be as cpu dependent in multiplayer as arma 2 was.
Single player seems to get 99% gpu usage.
Also, for people saying they have low cpu usage, i notice it's usually one of the cores that gets maxed out, open resource monitor and check the different cores. So overclocking seems to help in arma 2, haven't tested arma 3 yet.