Enter the realm of 200 fps and try to spot the difference. There are compromises here, but they are not really a deal-breaking change. It's not like you are going to miss an NPC or a magic spell discharge. Ultra and High quality settings are of pure eye candy nature and thanks to this can easily be turned on or off if you ever feel the urge. Higher performing CPU is going to provide extra fps as the GPU is considerably less utilized at this stage.
The last option for anyone looking for a World of Warcraft fix for outdated hardware is the Fair preset option. As long as you don't expect to see high quality water surface and crisp textures you are going to be just fine here. Note that a sub-$199 card shows 250 fps here, so if you haven't upgraded yet, now may be a good time to do so.
"AVOID!" is probably the best word that could describe this graphics quality option. No shadows, no filtering, no sun and you can't even tell where you are going. Are you sure that this is a viable preset for anything else other than Auction operations on your nettop?