Sup bois, I had a hell of a time taking bits from various forum posts trying to get this running as best I can so I thought I'd throw em all in here so anyone playing it for the first time these days can get it sorted without much trouble because it is a very cool game and it'd be nice for new players to get it working with relative ease. I'm playing on Zotac 1080 mini and an AMD R5 2600 and it works great, hopefully these settings should work fine on other setups. Also worth noting this is just a collection of all the advice I followed and one or two things I tried myself, I'm not an expert at this stuff and I'm not even sure if all these steps are necessary but I had enough trouble trying to get it working so once I got it to this state I wasn't bother messing around much further.

First off you're going to need to go to
Program Files (x86)->Steam->steamapps->common->Enslaved->Engine->Config
and you'll find BaseEngine.ini there. It's worth backing this up if you want to start from scratch and don't want to verify the game files and redownload it. Open it up in notepad and this is where you'll be applying these changes. Change all the values for the parameters below to the ones I list.

ResX=1920
ResY=1080
PoolSize=512
MaxAnisotropy=16
DetailMode=5
ShadowFilterRadius=5
MaxMultisamples=16
UseVsync=True
bSmoothFrameRate=TRUE
MinSmoothedFrameRate=22
MaxSmoothedFrameRate=59
LightEnvironmentShadows=True
ShadowFilterQualityBias=8
MinShadowResolution=256
MaxShadowResolution=4096
ShadowFadeResolution=256
ShadowDepthBias=0.100
MotionBlur=False
MotionBlurPause=False

Some of these may be already set to this in your file, don't worry about it if so, just make sure that's the value they're at. I've seen some people say set the file to read only after saving these changes, I did this too, don't know if it may have a knock on effect or not but I'm about 7 hours in and everything has been fine so far. What I've seen a few people say is that the in game settings don't actually work or apply any changes to anything so this is essentially what you're doing here in this file. All this advice came from old posts on this board from cryohellinc and panther_512, except for changing the PoolSize parameter, I decided to give that a whack, didn't really look into if it had any affect but hey, can't hurt. I feel like a lot of these are reasonably self explanatory if you need to make any adjustments yourself, DetailMode made a nice difference but according to cryohellinc any higher than 5 will cause crashes, MaxSmoothFrameRate is basically your frame limiter, I have it set to 59 because I was getting awful screen tearing on my tv but play around with it depending on what you have, 75 worked nicely on my 75hz monitor too. All the adjustments to parameters relating to shadows were panther_512s solutions to the shuttering effect dynamic shadows had on characters and it beats the hell out of turning dynamic shadows off. Only difference is I set MaxShadowResolution to 4096 rather than the 2048 he suggested and it works fine. MotionBlur you can have on or off but, I don't know why you'd turn it on in this, it absolutely blows.
Got any problems or whatever leave a reply and hopefully I can be of some help sorting it but this should make it look quite nicce

tl;dr Game look bad? Put in numbers ^^^ game will look good