I too 'Steamed' TFU a few days ago. Completed the download early Monday morning !!
I've not had any major issues so far, except a crash when trying to FRAPS video a sequence in the game.
I have noticed that the main menu seems to cover 2/3rds of the screen; the remaining space is just black.
I'd also like to be able to lower my screen resolution too. Lowest it can go is, 1280:720.
Nova Rift, your specs may actually be the problem here. When purchasing from Steam it does warn that you need a dual core processor or equivalent at least.
Granted; Mass Effect 2, MW2...etc may work, but those are PC optimised games.
TFU, evidently, is not !!
As a result you have an inflated port, needing inflated specs to run at a locked frame rate of 30fps.