After a ton of messing around, I decided to land on VR Medium and then adjust individual settings. I can RUN in VR Ultra, but there is a lot of judder in stations or in places with a lot of assets. In the end, I went with text clarity and smooth screens over anything else but I will probably end up tweaking more in the future.
I'm using the Steam VR beta build with Async reprojection on and Steam SS back to the original 1.0
In game, I have turned ss back to .65 with my HMD quality at 2.0. This setting alone has been a huge part of getting clear text.
Shadows, AA, blur and bloom set to OFF.
Everything else is probably up to you. I'm running a 980ti, so your 1080 will see better results. In the Steam VR settings under Performance, take a look at the Display Frame Timing. I used it quite a bit to determine how different settings created issues for my card.
Prior to Steam ASW and ED 2.2, I changed the HUD color to this scheme
to help with text clarity. It was tough to adjust at first, but now it looks fine to my brain.
Good luck, hope that helps a bit.