The parallax stuff is really awful, I had to turn it off. There's another fun issue with it that it only affects things at a certain angle and radius from you, so as you're walking around it looks like the ground around you is melting and morphing. Whatever effect they were trying to go for with that graphical feature, they failed horribly. I don't know how it passed QA.
I also agree with the texture issue. There's really no excuse in this day for the textures to look so bad. They have much higher resolution textures as the master copy they downsample from, so why can't they provide much higher quality textures for people who have the computers to run them? Any medium powered computer can handle much higher textures than the ones they currently have. The easy excuse is to just say "but the PS3", though that's not really an excuse because there's no reason they couldn't make it a graphics option like almost any other game ever.
