1) Get the newest rage drivers from amd. uninstall your old ones and install those.
http://support.amd.com/us/kbarticles/Pages/GPU121AMDCatRagePerfDriver.aspx
2) create the rage cache file under - C:/users/"your_name"/appdata/local/id software/rage - (you will probable have to make the id software folder with the rage one inside of that and as such they will be empty for the moment but the game will fill them will temp files)
3) add the Rageconfig.cfg file under C:/programfiles/steam/"YOURsteamID"/steamapps/common/rage/base - using a simple txt editor.
see it here \/ - might have to make some small teaks to the first line depending on hardware, if your graphics card is one Gig or lower leave it.
http://www.gamesas.com/index.php?/topic/1237580-the-best-fix-at-the-moment/
4) Once all this was done I had to turn off the Antistropic Filtering in Catalyst Control Center or Vision Engine Center, or rather set it to use app settings to get rid of some weird lines in the txtures and set the Anti Aliasing to either enhance app settings or overwrite app settings, which raised my fps significantly.
And voila! the game runs like butter on my HD 6950.
the only thing I'm still getting is minor artifacting on like 3 ppl in wellspring.
Hope this helps some of my fellow ATI users out there! Good luck brother gamers!
It really is fun once you get it up to snuff!