spent around 1 hr doing all these, finally got the necessary performance .
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1=
1366x768(My highest), - all low settings, (Image quality -Very low)(texture res-normal) = 30-35 fps
2=
1366x768, all low, (Image quality -Very low)(texture res-high)= 30-35 fps - No visible Graphics difference
3=
1366x768 , all low, (Image quality -Normal)(texture res-high)= 20 fps Laggy but Good Gfx Difference
4=
800x600, all low, (Image quality -Normal)(texture res-normal)= 30 fps
^No visible Gfx Difference Compared to above ^settings - with good speed & NO lags
5=
1024x768,all low, (Image quality -Normal)(texture res-high)= 22 fps(laggy)
For me Correct Settings to play without lag and with good visible graphics performace are :
800x600, Anisotropic filtering - normal, motion blur - yes, distortion- yes, (Image quality -Normal)(texture res-normal)= 30 fps