I did the command line thing but it really didn't fill my need for perfection. Of course I would use it if I didn't work out a way to make the changes permanent and make 100% of the game look good. For me, the command line kept menus weird. I'm not sure but I think it also leaves your HUD in 4:3 so you get a weird HUD cluttered around the center of your screen with empty spaces on the sides. Again, that's just me wanting to squeeze every single detail I can out of this very old, yet very... omnipotent... game.
I don't see it as a waste of time though:)My friends who I will coerce into playing this will have a one-stop place to make their game beautiful.