This would make certain areas and fights a lot less stressfull for the GPU and would allow for decent FPS on less powerfull machines (especially laptops).
For my taste the particle effects are over the top most of the time anyway …
Also clipping (I mean which parts of the scenery are clipped before the GPU is tasked with rendering) could be greatly improved.
I remember a place where you enter “Frostgorge Sound” through a tunnel from “Snowden Drifts”. When I face a wall my FPS is at 60Hz (max with vertical sync) but drops dramatically when I look to the north, although the rendered result isn’t actually very complex. Obviously the GPU renders a lot of unnecessary stuff …