Perhaps it wasn't clear, but the driver only ever reads environment vars, it never writes them. If an updated executable gets a new name and you want to keep the same settings, rename the subdirectory in ENVARC:Warp3D//
Tweaking shouldn't be that common since for the most part, the default settings are the correct ones. Notable exceptions are things like Wipeout2097, which depend on a number of incorrect behaviours of the legacy Permedia2 driver.
Many of the driver options are performance tweaks, for example, being able to turn redundant framebuffer clears into no-ops, using a narrow Z buffer and so on.
Ah, I see. I thought it would have automatically generated default settings for each Warp3D application you could edit from a preferences editor. It is clear now.