Regardless of how the information was presented to you, I'm editing the first post in a more simplistic way of presenting things.
Confirmed facts - I won't quote every source. If you're really looking for them, please browse through the thread.
The retail version of Crysis 2 will be released as a DX9 version. Regardless of the settings, you cannot 'enable' the DX10 visuals/features.
The three official settings for the graphics are - 'Good', 'Very Good' and 'Extreme'. There is possibly a 'Maximum Extreme' setting, though not in the retail version. If we use 'Good' as a reference, 'Very high' only adds Ambient occlusion, where 'Extreme' blurs the image, in a bad way.
The 'first day' patch doesn't enable the DX10 or DX11 visuals. It simply renames the old settings (Gamer, Adv. and Hardcore) to - Good, Very Good and Extreme.
Even if the SandBox 3 editor is included in the leaked beta, there is no SandBox 3 editor in the retail version of the game. Many modders think it will be released in summer as a lite SDK.
Camarillo (Crysis2 Director) still didn't confirm DX11. Camarillo said, "Crysis 2 will support DirectX 11 but we'll talk more about that in the future." But later, he added "We'll look at whether that's a possibility." Also, there is no trace of DX11 files in the retail version.
Pictures - Worst to best; In other words, 'Good', 'Very good', then 'Extreme'. Those pictures are from the final release, retail version, of the game.