I can confirm it resolves the tiling issue with my Radeon HD 4850! Yeah!

Details...

Product Update - Valve

General:
Fixed issues with custom ui_fov settings when playing as a client
Added support for 2560x1440
Slightly improved start up times
Fixed crash when clicking in blank area on Training Videos menu
Fixed memory leaks on shutdown
Fixed Be More Objective leaderboards being incorrectly named

Graphics:
Fixed “texture gridding” issues on certain graphics cards
Fixed settings being incorrectly applied on the advanced video options screen
Improved performance when using Ambient Occlusion
Fixed halos not rendering correctly

AI Bots:
Removed bot intelligence inhibitors for Freeplay games
Adjusted bot behaviour in Campaign games to make teams more evenly matched
Changed bots’ objective priorities across all game modes
Fixed issue with bot difficulty continually dropping

User Interface:
Fixed poor server browser performance for users with a large number of items in their history
Made server browser refreshes much more responsive
Changed server browser to no longer group player counts by max players
Added new pop-up text for server browser filters
Fixed not being able to sort by favourites column
Server browser now retrieves favourites correctly from Steam
Fixed arrow keys not working when exiting out of a chat submenu
Made it easier to select a default secondary weapon
Disabled chat options in solo mode

Dedicated Servers:
Can now use net_ip command to assign IPs to server instances
Dedicated server binary can now be run as a service, which won't have a CSIDL_PERSONAL virtual folder