Here is the descripton of the visual/effects differences between Hard and Lite versions.
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Install:

-Copy and replace all folders WITHOUT common/shaders!

-common/shaders, the shaders folder need to be placed without replacing, to do that go in the main folders of IV and EFLC
and in common folder delete shaders folder (MAKE A BACK UP) then copy the shaders folder from the version that you chose 
and put it in IV/EFLC common folder, 
everything will be placed!!!

-If you use patch 1.0.8.0 and EFLC or 1.0.4.0 then use shaders from 'Patch8_andOlder' folder,
read 'HowitWORKS'!!!!

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HardVersion:
-Uses almost all effects, most notables are Ambient Occlusion (SSAO_SSIL); 
Moving rays from el.lights sources (vehicles lights, lamps etc...) and
Reflections Extreme Precision.

-Performance: This version is heavy, -7...-10fps or even more than the original games!

-Bugs: 
1.Night Shadows, from Graphic Settings must be off, they cause bugs and problems with this version!
2.Interior to Exterior and Exterior to Interior Adaptation delay is very long about 4-5sec.!
3.Reflected sun in the shadows areas, when you drive your vehicle in some shadow area the sun will still reflect on the vehicle!
4.No ambient(sun or moon) shadows when is rainy weathers!

Conclusion: Myabe this bugs will not present on patch 1.0.4.0 and performance will be better, this version is good
for Screenshots and videos.
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LiteVersion:
-Uses almost all effects WITHOUT Ambient Occlusion (SSAO_SSIL); 
Moving rays from el.lights sources (vehicles lights, lamps etc...) and
Reflections Extreme Precision.

-Performance: -3...-5fps than the original games!

-Bugs free, you can use Very high Night shadows from Graphic Settings!

Conclusion: This version is for gameplay, you can still enjoy the beauty of the weathers and you will not feel
the lack of the moving el. rays or ambient occlusion (the games has own AO but with large range not on the current 3d model).
I recommend you this version!



