Just a bit to add since I copy/pasted that from the gamefaqs post. I have been playing for idk around 7hrs with no issues to speak of It doesn't seem to of had a great performance hit , but I have a beast machine, it could have a huge effect on aolder puter.
On another note for those of you that use Nvidia inspector I have set LOD bias to -3.000 (negative). This people have said will have a huge impact not only on performance, but could have very bad effects depending on the game. I haven't yet ran into a game that this setting make the game have artifacts or other wonkyness. On saints row the third like the others i've been using this on it has made the game on a whole MUCH better looking.
It's a texture filtering setting for those that don't know what LOD is. (Level of detial, and yes negative is better). For those with a powerhouse puter I'd def suggest playing around with inspector, but the devs seem to have done a good job of the options available
Level of Detail (LOD BIAS) controls which at which distance from the viewer the switch to lower resolution mip maps takes place,if you lower the LOD BIAS below zero, the mip map levels are moved farther away, resulting in seemingly sharper textures. They say if the game is in motion, the textures start to shimmer, I haven't had this issue. The quality jump is very appearent in any game i've tried it on. MW3 Rage, Saints row 2 and 3 basically anything fairly new.(Though the gain isn't as much in the Sr series it is appearent however)
My system specs in case anyone needed them for comparison.
Intel Core i7 2600K O.C @ 4.60GHz (water cooled), Msi 570 GTX Twin Frozr 3, Ocz Vertex 3 Ssd, 16 Gb Ram, Asus Xonar Xsense sound, Asus P8P67 Deluxe mobo.