There is definitely a drop in quality of graphics. The game looks like I'm playing Oblivion again pretty much. The game was lagging a bit for me, but only because I played for hours non-stop. Reducing the graphics is like false advertising. There is no reason the PS3 shouldn't be able to handle this game.
Besides there being 10 threads like this open already, go read through them and find the comparison BEFORE and AFTER screenshots and VIDEO, they show the game prepatch and AFTER patch!
Your either blind or predisposed because you heard some numbskull start the rumor that the graphics have been lowered! Textures failed to load sometimes BEFORE the patch was released, blaming that on the patch is quite funny since it has happened since I started my game ! Listen.... there is NO difference in graphical fidelity or quality AFTER the patch than there was before it! The ONLY Thing Bethesda did in terms of performance was fix the stuttering lagging issues some people with larger saved games were experiencing, they have not touched the textures, shadows or load distance!
Now go and choke on a darky and relax
