The game is busted for me.
I have an i5 CPU, Steam didn't download any patches, but I did download the game a bit late in the day so maybe it downloaded it as part of the installation.
I used the NVIDIA GeForce Experience to optimize the graphics and performance and the game looks like shiiiiiit. It runs at 60 fps, so at least that's good.
I have two 760 GTXs linked by SLI and 8 gigs of RAM so I thought it should look reasonably good and run nicely.
Now I changed some settings a bit, the framerate dropped to 40+ and after about a minute of playing after taking control of my character the game crashes and Windows warns me about loosing memory. Not cool.
Tried adding the WorkThreads line in the config.ini file, didn't work. I'm really disappointed, I thought I would play through the entire campaign today. Than my friends stayed over for longer than I expected and now I lost an hour messing with the settings. WTF, Treyarch?