Rockstar Games has announced the release of patch 188.8.131.52 for Grand Theft Auto IV on PC and there's good news... it comes with added graphics sliders.
According to the change list, once patched the game's graphics menu will feature newly added sliders for Water Quality, Shadow Quality and Reflection Resolution. Other graphics-related changes include rendering optimisations, VSync optimisations and a mirrors fix for Nvidia 7000 series graphics cards.
You'll find a full list of changes at Rockstargames.com.
Download the patch right here, or alternatively log into Games for Windows Live for the option to download when you load up the game.