A Watch Dogs game tweaker/hacker has discovered a way to use all the graphics engine settings and not only the few settings Ubisoft wanted to show the end user in the PC version of the game. Mind you, activiating these setting using the XML file does cause the game to crash a few times and makes it unstable, but at the same time it show the graphics fidelity we witnessed at the E3 2012 demo according to Guru3d user, kadzait24.
You can check out the screenshots captured with his custom settings turned on and he's also made available these settings for any PC gamer to try it for themselves. He says it took quite some time and a whole lot of effort to make this possible as the game engine is pretty complex and the XML coding know-how required to pull it off had to be perfect or else the game wouldn't accept these setting.
Below is the video that you can see with the XML setting turned on, the game does seem to be a bit choppy as he admitted to it himself.