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So, I know there are a couple of Image quality presets - I have to admit that I don't use them, though.

With the introduction of the OpenCL rendering which is available in the alpha builds, and which will be available in 2.12, while looking at the drop-down for setting the OpenCL mode, I thought that it might be good to have just a toggle to switch between whatever parameters are currently set and a 'fast' alternative that could be used for navigating. 

I don't have all the details - I'd leave that up to whoever implements it if this is seen as a good idea, but roughly here's what I have in mind;
On the Image Adjustments window, maybe below the presets, there would be a toggle titled "Fast Mode" or similar.  When enabled, it would do some or all of the following;

• Ignore all material properties other than Single Colour
• Disable ray-traced reflections and transparency, and depth of field
• Disable all volumetric options
• Disable textured background
• Revert to default 'Main Light' configuration (i.e disregard all additional lights)
• Disable all post effects
• Disable anti-aliasing
• Set resolution to 1/4 of the specified values
• Optionally set zoom to 'Fit to Window'

..there may be other options that should, or could be overridden. 

So, the purpose would be to allow users to set up their overall rendering parameters as they see fit, but then have a quick mode to navigate around (to recompose the scene, or whatever), while being able to switch back to the previous parameters once they're happy.  This would be particularly useful when employing some of the features that add significantly to render time.  The alternative for me, currently, would be to manually perform several of the above changes, and then manually revert them when I'm happy with the new viewpoint.

Yes, eventually I hope that we implement this sort of thing. In Fragmentarium I can navigate in almost real time, (albeit there is a trade off on quality at that level).

A simple toggle placed on the main UI, to switch in and out of  "explore mode" would be cool.