You can take a look at this GIF (see Youtube video for higher quality). I have adaptive resolution turned on and the setting set to Full quality. It looks fine when it's paused, but when I playback, the shapes and shadow are pixelated at quarter resolution. Later, I turn off adaptive resolution and set it to final quality, but the same problem remains.
It may not be visible because of the low quality gif (check the Youtube video to be able to see this), but all the objects including the text and surface (not just the shadow) become pixelated during playback.