So, I know that you solved it but I found a better solution..
See.. When you set TF2 (or probably any other game) to "High Priority" it makes your CPU run the game much better by using more of the CPU just for the game.

And now here comes the problem, when the game uses more CPU then it normally should, it takes away the CPU power from the input devices as well. This causes an input delay. So, simply you want to balance between these two.

TL;DR: Just set TF2 to normal priority, as -high in the launch options makes it on high priority. make it normal priority via the task manager.

After all, it may be better than playing in a small window, it may cause like a 5, more or less, but anyway this shouldn't matter since you *probably* have high FPS.

To be honest, here's what I've tested so far, but just to make it clear: Every PC is different.

Mastercomfig = OK Graphics, Nice FPS
Comanglia = Toaster Graphics, Lowest FPS (for some odd reason)
Rhapsody = Nice Graphics, Most FPS

I know that PCs vary, but to be honest, rhapsody gives me the most FPS although it doesn't make the quality shit like Comanglia, I still like comanglia's toaster graphics, reminds me of N64 which is something that I really like.
Also, someone mentioned already cfg.tf , it's a great website, good stuff.

Hey, if you are still updating this mod.
Can you do a version where it does remove the models like the original expect for the hats?
Or at least tell me a way to do it.

After all, TF2 is "America's Top Hat Simulator", eh?