I only have 256mb of VRAM.

If you have not already but kill the Shadows here are the ini with bDrawShadow (one of those hidden ini settings that works)
[Display]
fInteriorShadowDistance=0.0000
fShadowDistance=0.0000
fShadowLODStartFade=0.0000
bTreesReceiveShadows=0
bDrawLandShadows=0
bDrawShadows=0
does anyone have a method of optimizing, reducing, anything - for textures and meshes, beyond just normal compression?
Textures - nothing like Wiseman Reduced yet, all high rez texture packs..