With the 1.03 patch, I've been able to turn the graphics back up to High and High (but leave off the water reflections). Really happy with how this is looking.
I just don't get online consistently enough to play with other people, but am enjoying the original campaign. Am playing a CG Sun Elf Wizard. It is always tricky being a wizard at early levels because you are so damn weak, but I'm at level 8 already and have a sizeable array of destruction at my finger tips. I've found it best to have my other party members "protect me" rather than "attack nearest" as spell casters tend to attract the baddies like ants to a picnic.
Spoiler:
I've just started into the "Tomb of the Betrayed" and watching zombies get maxed by fireballs is quite satisfying 