If you have an older or non-gaming setup (like mine, a laptop), then I wouldn't recommend CCC. I get much better performance without using it than with using it (15 fps on it's lowest setting wasn't fun).
I went through the
Crysis Tweak Guide and the
Crysis Warhead Tweak Guide (both at
Tweak Guides), and made my config file from scratch.
I'm pretty sure that either multi-player or the MWLL mod ignores some of the settings (in favor of server settings maybe?), but it still gives me playable framerates (always > 25, usually > 35).
As for Wars being more like Crysis or Warhead for configuration, I think it is closer to Warhead. My Crysis/MWLL config file was giving me more errors than my new one does now (after reading the Wars tweak guide and adjusting things accordingly).
Oh, and any comments in your config file are going to show as errors. They don't cause any issues, just lots of red in the console.