Makes no difference if the settings are on high, medium or low. Flickering is always present.

In response to a few things, I have got the latest drivers installed,and also it never makes any difference when I play with the in game settings.
To be fair as someone stated I do not notice it so much in cockpit,however as I said I mostly fly at low altitude, and get a voyeuristic pleasure from watching my tracks back.This is because in il2 (old & modded) plus RoF the scenery really adds to the realistic feel of the SIMULATION.
Now surely " simulation " means that within the limits of technology things must be rendered as near to real life as possible.
So after patch installation I play the Black Death track ,and what do I see.
I see shimmering hedgerows and trees, plus nearby legoblock towns wobbling away merrily.
To anyone wondering, Im not some OCD anal retentive, because what gets my goat is that 3,4, 5 year old or whatever il2 maps like Slovenia or RoF landscapes do not look as bad ( in fact the buildings and general quality of say Slovenia look much better to me than lego wobble CLOD),this is what saddens me with CLOD.How can some aspects be so much worse than previous incarnations.
Im not being a whiner because CloD can be more,I see that ,but this landscape aspect so detracts for me from what could be a stunning looking game.

In the latest huge Q&A sessions Luthier mentioned that this is a limitation of modern technology (or one of types of modern technology they use).

E.g. there is same shimmering of shadows in such a great game with huge budget Total War Shogun 2, even in game menus. I saw it present in ArmA2 too I think.

Hopefully they use different technology in the sequel. E.g. BF3 does not have shimmering.

Well I really hope they do use some other method in the sequel,and get rid of this problem.I just wonder If the developers have it high in the priority list?
I appreciate all the vast amount of work that goes into these games under the bonnet,but a nasty little scratch on the paintwork should be corrected I think!.

The problem is greatly reduced for me as well - compared to what it was a year ago. I'm a 2500k and 580gtx user. From the cockpit I only see shimmer when looking straight down from less then 1km alt. At an angle there I can not see it.

I have to say I am very disappointed that the flickering/ shimmering trees and shadows and the prop have been left as they are. Completely unrealistic and a complete turn off. They ruin the sim (along with the steadily worsening colour palette). I really do wonder where the devs are coming from. Then again perhaps I shouldn't: Spitgirl anyone? What nonsense.

RedToo.

Visual shimmering with shadow maps is directly related to the shadow map texture resolution, and the size of objects as they are viewed from the light. FPS games with not too much distance to draw and objects filling a lot of screen space are optimal for this, while big landscapes with tons of small objects like trees are the worst situation. It´s unfair to compare BF with CoD. Even Total War scenery is a lot smaller than CoD.

ArmA2 uses a combination between shadow maps ( for near landscape ) and stencil shadows, for soldiers and vehicles. Stencil shadow is the alternative to shadow map. It has no shimmering at all, but it is slower if you have tons of objects to cast shadows, the shadow can´t be easily blurred and shadows can´t be calculated trough alpha objects, like trees or clouds.
What we have its not a so bad compromise for a so huge landscape, if we want to see shadows so far as we have.