Q: ARE THERE ANY MINIMUM REQUIREMENTS TO PLAY?
A: The only minimum requirement is DirectX 9. However, certain graphical settings will be enforced in order to ensure a level playing field (i.e. only graphical options that can be accessed through the Options and Advanced Options menus).
If they are going to restrict all our configs, at least add a few fps boosting options in the options and advanced options menus. Such as mat_phong, r_lod, etc.