The warp effect looks strange. There was a double warp effect when a Sathanas warped out and it was viewed from the side. A larger warp effect and a smaller warp effect at a short distance for the same ship.
I'm using the following settings.
-spec -glow -env -mipmap -nomotiondebris -missile_lighting -normal -3dshockwave -cache_bitmaps -dualscanlines -orbradar -rearm_timer -ballistic_gauge -ship_choice_3d -weapon_choice_3d -3dwarp -warp_flash -snd_preload -post_process -fps -ambient_factor 35 -ogl_spec 20 -spec_exp 15 -spec_point 1.2 -spec_static 1.5 -spec_tube 1.5