After quite some experimentation, I've found a great happy spot (for now lol).
PD 1.0
SS start at 100%, adjust until you are getting the picture quality and frames that work for you. For me and my system it's 150%. No MSAA, No shadows, 16x AF. High performance in video card settings.
Result - (1) looks fantastic at 150%, stunning to be honest (2) I get 45-60 fps online, and in simple missions offline 60-90 fps. (ie. tanker refueling mission)
PD has some serious implications on perf - more so than SS. Its of my opinion as well that you don't want to set both, ie. 1.5 and 150% - this is basically imo oversampling and takes substantial hit. If I move the PD to 1.5, I take 10-15 fps hit, and honestly it doesn't look much different to me than 150% SS.
My 2 cents, I realize for everyone it's different, but I setup both offline and online mission, testing each PD and % until I found good perf with good visuals. Time consuming, but definitely revealing