It runs very fine. And the fact that I can switch off certain features to speed up FPS on lower system is a very good addition.
The columetric clouds are absolutely amazing. I never saw such a great animated sky in a game so far.
The parallax mapping at the ground is very cool and the foam at the shoreline adds to it.
I really felt like wandering through an island of the latest Oblivion-game.
PS: To Dusty. I really thought about creating a manual with lots of pictures and additional help regarding modelling and texturing. But that would become a little book very fast. So I think it is no task to do it for free. I could do it if there would be enough people willing to pay a few bucks (maybe 5 $, I am not sure how many users are in need of it).