Running with a XFX 7950 DD Black Edition (900MHz stock clock), I have Graphics settings set to "High" and Anti-Aliasing set to SMAA 2TX, with the following changes:
1) Textures set to "Very High". The 7950 has VRAM to spare ;-)
2) Water set to "Very High"
3) Objects set to "Very High". This MIGHT be CPU-dependent. I haven't noticed a hit on my frame rate by setting Objects to "Very High" (I have a Core i5 3570K@stock frequency).
4) Motion Blur enabled
I'm still messing around with the settings to get the best possible visuals, while maintaining a good frame rate. Good thing is that Crysis 3 feels and plays fluidly at frame rates below 60 FPS.