I find BF3/BF4 is a good example too,high vs ultra you may not immediately notice or for me even strugge to see a difference.Running about killing people you won't notice all that much of a difference except to your frame rate.:awe: Medium to high there is a big difference of course.
I think shadows are a bit darker maybe on ultra vs high?Kill MSAA and ultra and a 770 can hold 60fps+ minimums@1080p in BF3,enable ultra textures and 4XMSAA and your pretty much wanting to sli such a card to pull the same frame rate.
BF4 I run on High rather than Ultra. Nvidia does a great job of showing the image detail differences between presets on their sites, and some other sites do a good job as well. I usually use those as a reference for deciding what settings I want to use.