Check out the settings:
http://img688.imageshack.us/i/settingswy.jpg/
And a screenie with these settings:
http://img854.imageshack.us/i/mysettings1.jpg/
Now compare the same screen on EXTREME:
http://img40.imageshack.us/i/extremez.jpg/
The textures are sharper and you don't have that horrid, exagerrated lens flare/bloom. More pics to come...