Here is what i got:
I always used dynamic sky, and view distance 150, chunks load 60 and 60m and selector to 2.
On max settings game looks gorgeous, it even has like dents if terrain is set to 3 but it takes 5 fps more to work...:/ So i noticed that on max if it doesn't lag much i get around 10-20 fps, but it gets to drop to like 3fps sometimes, but on moderate i get 15-30 fps unless it starts to lag sometimes and gets down to 5-10fps. but on low graphics i don't get any boost in fps and it even lag sometimes more, or its just me trippin...xD But i think its totaly playable on medium.
Bugs: think that its known beta bug, but safe option doesn't work with me, and also sometimes terrain gets these blue dots, and also doesn't load terrain sometimes, is it because of my low performance phone?
Also, will we be able to craft anything in finished version like weapons, and will we be able to mine our own blocks and not have and infinite number of blocks in inventory...?