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Another very significant area to look at is antialiasing. The in-game antialiasing is a big performance hit, even at 2X. If you have an Nvidia card, you definitely will be better to offload it. Set the card to override game settings using Nvidia Inspector and then apply GPU antialiasing settings...
Was just reviewing this thread as it was linked to another, newer discussion and found your recommendation Harry. This is interesting as I have tried it both ways on my older system and found that setting the in-game AA to 8x and telling my Nvidia GPUs to use application settings resulted in much, much smother game play and much nicer looking visuals. Every system is different that's for certain.
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Yeah, I probably should qualify every observation as pertaining to "my system", and "definitely" is not appropriate
I wonder if it's something chip-specific, because "on my system", hardware antialiasing looks and performs better than native game antialiasing.