I'll try to give it a shot for your purpose:
A method, that prevents screen "tearing" due to monitor/graphics card synchronization. Unless you see the tearing, you probably won't need it. Negligible gain by turning off.
Quote:
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Enable Post Process Effects
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Many effects, most known one the distortions seen when you are drunk. Not always. Not always used, so unlikely to give you a great gain by turning off.
Prevents edges from being jagged by blurring them. A VERY resource intensive setting. A big speed up by turning off.
More a question of your monitor, not performance.
A big deal at the core of the graphics engine. Higher shader settings are more demanding, but usually greatly affect visual quality. Lower settings should be quite faster.
REMEMBER:
no matter how fast your computer or how low your detail settings ,it won't prevent LAG, which is a question of connection, not your machine. You can easily test what is the problem:
-rotate your camera. If the rotation is "jerky", slow or even stops for a fraction of a second, that's your machine end - decrease detail levels.
-if things stand still or "jump back in time", that's lag. Little you can do about it. Don't download things in the background and similar.
