If I can suggest some settings, I recommend:
AMBIENTOCCLUSION (AO_METHOD 1, AO_SHARPNESS_DETECT 1, iSSAOSAmples 24) - it will give you lots of new shadows and add lots of deapth to the scene.
BLOOM by Ganossa - will give you sweet lighting effects on sky, lamps and muzzle fires.
LENSDIRT - will add an effect of "dirty screen" when you look at some powerful light sources. Its nice, trust me.
LENZFLARE - just a simple lens flare, looks nice on outpost4 and colony
TECHNICOLOR - for old movie like colors.
FILMGRAIN - it will add some noise to the scene.
AMBIENTLIGHT - not sure what it does, but I have it turned on.
FXAA - for anti aliasing. The Dx7 to 11 wrapper doesn't allow to use multi-sampling I think.
CA - for chromatic aberration. The default values might be a bit too strong.
Oh and check RBM - I won't tell you what does it do, but trust me, you will like it. But my GTX660 is too slow to handle it.