The trilinear provides the best texture quality seen on characters and objects in the game itself. If your video cards lacks support for this at higher screen resolutions you would reduce it to the bilinear setting to avoid gaming problems. That mainly has to due with 3D rendering.
 
 The anttistropic and antiliasing settings are generally disabled or set low due to problems where the support for image quality is lacking.
"DirectX Texture Compression 
DXTC is the native, compressed texture format used in DirectX 8. In many cases, DXTC reduces texture memory usage by 50% or more over palettized, 8-bit textures, allowing for twice the textures at the same resolution, or the same number of textures at twice the resolution. Three DXTC formats are available." is one explaination seen at 
http://udn.epicgames.com/Two/TextureSpecifications#DirectX_Texture_Compression