Let me explain a few things about these post processing settings.
First of all, and you've already noticed that, some views have more (different) effects enabled than others. In short, when you're looking at the game in "first person view" (in other words, when you're driving your car) we do not enable certain effects that you would only see through a TV camera. Depth of field is such an example, and there are a few more. Here we try to make each view as close to real life as possible, so effects that occur in real life because you are looking through a camera lens are only present for TV cameras.
Secondly, the higher you go with your post processing settings, the higher the quality will be of each rendered effect. So even though the number of effects remains pretty much the same (comparing for example the normal with the ultra settings) the quality at which they are rendered differs. Will you always see that? It depends. For some things you really have to study the image. For your information, we added the "ultra" setting to create the best possible image we can. In some cases that will slow down your system to a halt, so in those cases, look at this as a way to render screenshots and stick with lower settings for driving.