Simba:
When ya click save it should open up a save menu to save direct to your dod config....just double check that it's directed to the appropiate folder.
Romp:
The program changes pretty much all of your settings for what your needing....much more than whats available in the video settings in the games options menu. You'll be amazed at what you can change once you see all of it mentioned in the program. Using the preset choices is the way to go though and it's the only way I've used it. You will also need to know your upload & download speeds of your internet connection.
Anyhow, it's a quick download and simple to use so you should check it out. The other route you can take is to lower all your video settings like Killz mentioned, but then you still need to play with your Rate, Cmdrate, updaterate settings and if you don't know what your doing with these then your better off using OmniTweaker cuz it sets the optimal Rate, Cmdrat, Updaterate settings for you, among other things.
Even in the beta days of DoD there was software like this....but this is the only Source version one that I've heard of. I used them both now, and have been very happy with the results overall. If you're runnin a low to middle range graphics card and a Pentium chip then it should make a big difference for ya especially an increase in fps & lag issues.
I have a good graphics card Nvidia 7900GT, but a bad processor (for DoD anyways) 3.0Ghz Pentium D and definitely see the benefits after using OmniTweaker.
Good luck!