I was digging around yesterday trying to find a fix for my launch option issues when I stumbled upon this great little feature.
Just type “mat_picmip -10” (or any value 10 to -10, -10 being the highest detail, 10 being the lowest) in your developer console to get these results:

Low detail like this ^ mat_picmip 10

High detail like this^ mat_picmip -10
Im still looking for a file in the configuration settings I can edit so I dont need to type that into developer every time I start my game. Its worth it though.
cite:Tf2 Tweaking Guide
This is a setting I use too :) Make an autoexec.cfg file in your tf/cfg folder and any commands you put in there will get executed when you fire up the game.
Did you take a framerate hit?
If you have plenty of memory on your graphics card it should barely be noticeable. I didn’t take a hit on my 1Gb 5850.
ditto.
How should i enter the command in the autoexec.cfg- mat_picmip “-10” or mat_picmip 10?
I have mine without any quotes around the number, mat_picmip -10
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