Re: "UE4 ini tweaks only affect the Menu and Armour Customisation UI / UX. These have no effect on the in-game rendering which uses the Blam! engine"
Looks like there's a few custom settings in the UserGameSettings file that can, eg. the GameResolutionScale variable: normally it can only be set up to 1.00 via the in-game options, but setting it higher than 1 in the INI does seem to take effect in the actual game itself (though for me at least, trying this with 2.25 made the in-game UIs like the scoreboard etc act strange, no longer centering properly...)
It'd probably be safe to guess that the default UE4 variables probably won't have any effect on Blam (like that AudioQuality fix that's been shared around), but custom ones added by 343 might still be worth looking into.
(don't have a list of what a default UE4 UserGameSettings would look like to try seeing what they added though.. not even sure which UE4 version they based it on, 4.18 maybe?)