Both thanks for the feedback.
For what concerns the timeslicing of the shadows, was only a test right after the installation of the game, obviously the game runs way better with it. Simply, I have no noticeble graphic improvements on the shadows when turning it on/off, only the frame rate changes from 35 (off) to 60 and up (on).
As for the LOD, I had the same problem with Far Cry 2.
