Just extract the "coalesced.ini" file at location "...\Mass Effect 2\BioGame\Config\PC\Cooked" and replace original in game folder (
dont forget to make a backup of original!).
http://rapidshare.com/files/412954284/ME2mainConfigFile.rar
The changes I made are eanbling trilinear + AF, much less aggressive LOD for characters and effects, 2048x2048 shadows with improved soft edge filtering, capped to 40fps, some minor tweaks for better IQ and changed DOF strength, distance and different bloom kernel values to reduce the bloom "aura" and instead give a nice tight bloom as it should be in games IMHO.
F10 to hide/show hud.