Ive decided to run some benchmarks to test the performance difference between Extreme and Ultra settings. (I use V-Sync so frames cant go over 60, ive upgraded to DX11 and have installed the high res texture pack). On Extreme setting I get Min: 48, Max 60, Avg 58, and on Ultra I get Min 27, Max 60, Avg 45. My rig:

AMD Phenom II X3 @ 3.4ghz
Sapphire Radeon 5870 1GB
4GB DDR2 RAM
Vista Ultimate x64

As you can see Ultra gives me a huge performance drop, most of the times the framerate is at 30 and is very jerky. But I can barely see a difference in graphics quality, can anyone tell me if there is any real benefit visually in running everything on Ultra? Because if there is it isnt very noticeable IMO.

I also tested bumping each individual setting from Extreme to Ultra to see which setting sapped the most performance, and it turns out 'Objects' and 'Shading' are the performance killers for me, I set the rest to Ultra and left those 2 on Extreme, and I got Min 42, Max 60, Avg 58. So it runs almost just as good as if I stuck to Extreme only, the question is it worth doing this or should I stick to regular Extreme....

Yes it's a difference, you need to open the console in the game ~ and use this commands to gain more FPS
r_UseEdgeAA = 0
i_mouse_smooth = 0
r_postmsaa = 0

The benefits DX11 brings are relatively minor. They take a step towards more realistic visuals. If you have the horsepower then they are worth it. If you don't have insanely overpowered systems then I would say stick with DX9.

Just to say... visual difference between extreme and ultra is quite big. In ultra you can see real bricks and you can see real wholes in the ground. You have realistic shadows and real time local reflections(NOTE that reflections on buildings and waters on the street arent reflecting real time because it would drop fps a lot.) Also do check the sea you'll amaze yourself

I will lookout for those detailed differences, but IMO when you arent standing around staring at walls there is almost no difference, see for yourself:

Extreme:


Ultra:

Yeah Ultra runs worse.

This is probably the most noticeable thing I've seen so far... The POM on the ground is really nice, too.

And yeah, it kills performance... The game is still very playable, but there are some considerable hiccups.