The biggest killer fps settings for me its the water quality and civ traffic , i can run 2.0 ppd with this two on lowest/disabled , i strongly recomend play in VR , the immersion helps a lot , its other life, not even compares to a monitor ...about the reading huds and gauges, you can and should set a button on your controller to zoom, so when you need to look some better just zoom in , but playing in Vr its like a coaster ride , if you have stomach go for it.
Edit: i still playing on 1.5.8