There are differences.
Look at the pipe on the left, 2 rings are completely missing on low. Also shadows are missing on the trees at the back.
They are missing on V. HIGH. As well as some other details.
Anyway this is with Low Textures, and some of them missing on max. setting.
Ze German surely **** this up

From what's left... more precise lightning/shadows, better AO, DOF, less aggressive LOD