I've gathered that this is a very common problem among those that have Intel cards.
I got myself a program called Silent 3ditor which allows me to view and edit DAT and other file types (it's apparently what the modders use). According to a poster at the Ubi forum, by using this tool I can at least turn off reflections, and maybe even fix them.
The problem is, I don't quite know what I'm looking at, and I have little programming experience. I don't know what the fields and values represent or what they do.
So, in other words: help!
(It also looks like it can't open every file in the game folder, so maybe I won't have as much control as I thought...)
As a side note: My computer screen (1280x800) is not in the native resolution of the game. I tried the res fix available in the downloads section, but to no avail - my dials are still oval, and my sailors are fat. Are there any other tweaks I should know about to get it working?