It appears that values as high as '1.999999' work for 'Model Draw Distance'/'LODDistanceScale'. The display quality settings can be customized. You can use 8192 or even 16384 for screen shots of planets, but I don't consider them suitable for general play. Note that I recommend against using texture resolutions past 4096 as you will get progressively more noticeable texture pop-in around complex areas like starports, irrespective of how much video memory you have. If you want to keep things simple you can paste this into your 'GraphicsConfigurationOverride.xml' file (normally located in %LocalAppData%\Frontier Developments\Elite Dangerous\Options\Graphics\): You can increase the texture resolution of planets, the galaxy background and the environment map.
7 Graphic Tweaks, Dreamscape Feeling & alii.
