CPU intel 2 core duo E8400 @ 3GHz (Pentium III Xeon)
GPU Nvidia GTX460 1GB
4GB Ram.
I don't know why, but I get a better result with the higher number on the rejectThreshold.
I left the external FPS limiter in place as although it seems it does have an impact, without it I seem to get much worse stutters, especially looking sideways out the plane, so it's a trade off really.
WRT the LOD radius, someone elsewhere explained the principle, (other places you will read, "if your system cannot sharpen the textures at 4.5 no way will it at 6.5!" However, the LOD radius effects how many tiles around your plane are high res.
Imagine then you are in a dark room, you have a flashlight, it lights up a set area of wall, as you move the flashlight you light up new areas, if the beam is narrow (a smaller LOD radius) then you arm has to do a lot more work (GPU swapping textures in and out) if the Beam is wider (larger LOD radius) you need to move your arm less to light up more wall (less swapping in the GPU)
Now logically this would suggest a very large setting might initially take time but would pay off in that as you advanced across the terrain the system would be loading the higher res textures well before you got to them, of course it doesn't work this way as the amount of work is too great, so you have to find the right balance between the load time and the overall appearance, but the default setting of 4.5 means that the third level mipmaps are really pretty close to the plane so you never see decent middle distance textures even when it is all running well. With a setting of 5.5 or 6 you do at least get a better looking overall terrain even if the highest level mipmaps are lagging a little.
That's how it seems to me anyway.