I tried it out a couple days ago. Initial spawn I was to the northeast corner. Two glaring items. Both of the airfields from surface to about 5,000 feet had a jittering appearance of opposing lines over the terrain. On the two town islands, the shadows of trees jittered continuously from any angle at lower altitudes.
Also tried out the carriers. On the deck, the top of the carrier and surrounding ship antennas flickered continuously from the surface to about a 1,000 feet.
I also noticed when approaching Ford Island from the south shore area it appeared to be a mud flat in the middle of the harbor. I landed there. It was smooth.
Nice effect having the A-20s parked outside the hangars.

I've got a gtx 1070 graphics card and all the graphics settings to the full on side of the scales. FR was a constant 59-60.