In case anyone wants to try, I have it set up as follows:
Settings in Vision Engine/Catalyst Control Center (Create a profile for TESV.exe located in your steamapps folder with the following settings)
1. Anti-Aliasing: Set to "Use Application Settings" and put a check box in the Morphological Filtering box.
2. Anistropic Filtering set to 16x (or what your system cna handle)
3. Tesselation Set to AMD Optimized
4. Catalyst AI Texture Filtering Quality set to High Quality
5. Put a check in the box label "enable Surface format Optimization"
6. Wait for Vertical Refresh set to "Off Unless Application Specifies"
7. Anti-Aliasing Mode set to Adaptive-Multi-Sample AA (Move Slider to Middle)
8. If your using Crossfire be sure to choose pre-defined profile for TESV.exe to ensure Crossfire works as intended. if your not running Crossfire ignore step 8.
Settings in Skyrim Launcher
1. Set Anti-Aliasing to OFF in Skyrim Options (We don't need this since we are forcing Morphological Filtering)
2. Set Anistropic filtering to match setting in AMD Vision/Catalyst.
3. Choose which ever advanced options you wish.
4. DO NOT ENABLE FXAA in the advanced options of Skyrim. It may cause problems running it together with MLAA
It seems that Morphological Filtering (MLAA) gives a simlair effect as 4x Super-Sample Anti-Aliasing without the performance hit of SSAA. MLAA is not the same as FXAA. MLAA was originally developed by Intel to be used for graphics calculations on CPU's. AMD eventually adopted a simlair effect on their Radeon GPU and ported it in with some modifications of course

Please note: MLAA can cause some text fuzziness depending on the resolution of your monitor. This effects subtitles and other text. however at my resolution its barely noticeable. After a half hour of playing i didn't even really notice it anymore. however, its a small price to pay for how beautiful it makes Skyrim look!
Let me know what you guys think. This MLAA has pretty much completely eliminated jaggies alltogether for me...it looks better then 4x MSAA did. MLAA also works on grass, trees, and foilage that looked blocky to begin with that it seems MSAA doesn't do well smoothing off. just wanted to toss this out there, I thought maybe someone else would like it as well.
P.S: It seems AMD released MLAA 2.0 not too long ago but it didn't get much fanfare...i guess its a big improvement over MLAA 1.0 and debuted in Catalyst 12.4. Thanks for telling us AMD!

http://sites.amd.com/us/game/technology/Pages/morphological-aa.aspx