These effects must be very subtle, because I can't really see a difference.
Which is ok as far as I'm concerned, I'm not much of a graphic junkie anyway...hell, I still find Infinity Engine games good looking. 
Oh maybe it's just my photographer's eye, but to me there's certainly quite a lot of difference in how the shadows and lighting look, especially the dynamic stuff, but the level of detail in the environment seems very high even on low settings, so it all still looks good. It seems that frostbite truly is good at getting the best from the available hardware!