P2pool is different than a regular mining pool. The work rounds changing every 10 seconds is typical p2pool behavior. I'd invite you to read up about it by following the below link. Once you understand the behavior, I think you will see that your earnings over any meaningful length of time would be higher on our pool than with one that charges a fee.
https://en.bitcoin.it/wiki/P2Pool
These days it's 30 seconds, it's been changed (the p2pool page on bitcoin wiki says 30 seconds in one spot, but then 10 seconds in a different spot)
Edited to add:
P2Pool payouts explained / short version:
This has the effect of making is such that when you find a share, it pays out a trickle over the next 72 hours (which will be a larger trickle, increased proportional to the number of shares you have found in the past 72 hours)
one share = aprox 0.0033 BTC per block found by p2pool, two shares = aprox 0.0068
This trickle is paid out every time p2pool finds a block within 72 hours of the time you first found the share (and if you stop mining, it takes 72 hours before your last share falls out of the p2poolsharechain for the trickle to completely stop)
There are some examples of people using the nastyfans p2pool node and how much income they're getting per-block found, as reported here:
http://nastyfans.org:9332/static/graphs.html?Week
my own local (non-public) p2pool shows similar graphs for my own mining
Still wondering about this:
I still can't figure out why the "Local rate" graph for nastyfans.org still only shows 100 GH/s or so for hash rate... are some of the BFL ASIC Singles down? According to the screenshot in the original post, all 7 singles are hashing away and pointed at the local (127.0.0.1 / nastyfans.org I assume) p2pool node.
Edited again:
waaait a minute... the difficulty in that screenshot [268M] doesn't match the bitcoin network's [511M] as reflected by my own p2pool nodes
(and bitcoin difficulty is probably about to be over [600M] in the next 48 hours)
Also, why such an old version of cgminer? What's going on?
I thought those screenshots used to get updated on a regular basis.