227: 3.2 basically incorporated the Panel Tweaks mod (the person who made it got hired), so if there's any incompatibility between the two, that could be causing a problem. You tried removing all mods at the same time, though? If so, then it's probably something else. You should remove the mods until you've discovered the source of the problem, just to be entirely sure that they're not a factor (never know).
First I'd look in the User.ini file and check to make sure all of the downsampling options are set to 0; I know you say they're off, but it's probably best to check the .ini directly. I think there's AtlasTextureDownscale, DetailTextureDownscale, and TextureDownscale.
Do you have an ATI card? Sometimes going into CCC and changing the mipmap detail level to "quality" helps with blurry textures.
If neither of those things work, it may be best to just reinstall and see if you suffer the same problem on a fresh install (and if not, add the mods one-by-one until you find the one causing the problem).
I tried both one and one then both mods. I also checked right before I installed the game and blurry/low resolution texture was still there.
I've checked both users.ini, they're all 0 and texture quality is the same as in Ultra pre-set.
I run an Nvidia card so I don't know about anything like that. Only thing that usually helps but I always use is 16xAF.