How to reduce draw distance

When I look at certain parts of the map my framerate dips to 15 fps and below. I am certain reducing the distance at which items and details are drawn in the world will seriously help the unplayable frame drop. Looking at the PS3 version of SR The Third this looks like one of the methods used to get the game running on that system. I have already turned ALL of the options to their lowest in the display.ini. My question is, is there already a mod which allows me to reduce the draw distance below what is possible with the dislay.ini? If not, how would I go about doing this myself?
 
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