Thank you, I like your second config without the HDR values and with medium shadows.
POM works, textures and shadows look much better, DX10 water and sunshafts are there. It all good except that I noticed a thin "white" edge around objects but once I enabled EdgeAA (r_useEdgeAA 1) it was gone. I can see that some objects (rocks, grass, barrels) do fade-in earlier but I guess thats where some of the FPS gains come from.
Performance seems about equal as all ingame settings on "high" but with basically all DX10 "eye candy" at the cost of worse LOD.