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.
Most of those make it a blurry mess
Ambientlight is Screen Space Indirect Lighting, aka reflected light sources give material a tint based on their pixel color data or from a preprojected source, it uses ambient occlusion techniques for casting so it's expensive as hell as far as framerate goes.
Of course if you have anything remotely modern you can run AVP2 at a billion frames so...
Use Reshade 1.5 and it will work, you will of course, lose any effects not present in 1.5
RBM is the "depth bias" trick I used in Crucible of Darwin, except for doing it manually with special textures and some alpha channel bullshit, it's done procedurally based the light/dark values of the textures to create pseudo 3d, kinda like parallax mapping does.
See how the crest and arm "pop"? RBM does that in real time without no alpha trickeration.
Another awesome thing about 2.0 is you can use a LUT to produce up to 16 bit color provided you know how to write a little shader code, so you can get the same type of "deep color" (aka 10 bit LUT) that Alien: Isolation has.