Gears of War: Ultimate Edition on PC is not in a good state at the moment, with the game suffering from various performance issues, as well as NAT issues and textures not loading properly. There's a patch on the way, but it won't address every issue with the recently ported PC version.
It targets some of the key performance issues as well as adding some optimisation such as Ambient Occlusion tweaks, and "refactor of texture settings to better reflect VRAM requirements and to better manage the texture levels for each setting", which seems to suggest that the graphical options will better reflect their requirements.
The patch will also remove the mouse smoothing, and bad news for gamers with multiple graphics cards, there is still no mention of SLI support.
We've had a look at the game and found that there was a lot of screen tearing, so we're hoping that the upcoming patch fixes that too. The update is set to drop sometime next week.