Very low graphics quality

Hey, I have problem that I never met before. My graphic looks so bad that I can barely see letters in chat, I can't see addon menu in character window and I can't set windowed mode. Graphics settings are "ultra", resolution is also fine, PC restarted and I did every step of your guide with "read-only". Do you know what may be the reason?

I'm having the same problem. The whole game is 24bit, seems like a super nintendo quality and the fps does not go over 40.
Chat is barely readable, and everything looks fuzzy.
Editting the game in the config file doesn't work, reinstalling. Don't know what to do
Hope there's someone that can help with that.