Wing Commander CIC

I have a Geforce 2 MX video card and I wonder what are the best settings to use get the best visual effects.

Here are my settings so far:

Video: Very High Detail
Optimized: Display List
PerPixelLighting: Reflective Lighting
Resolution: 1024x768
Colour: 32 bit

What does PerPixelLighting and Optimized do?