I guess cuz of ping you need to block a lot.
The shield you bring depends on how the shield is working for you? Do you need more coverage cuz you're dieing from people getting around shield or arrows ? Bring a heavy round. Is this heavy round breaking too fast, bring a huscarl shield. Is your lag causing you to get hit cuz you can't raise shield fast enough? Go for Brown Lion shield, Knight Heater or Knightly Kite. For something in the middle of speed and protection, either a "round shield" or elite cav shield. NEVER carry 2 shields...
Your WPF is enough. WPF is only like 10% of actual swing speed. Weapon itself is maybe another 20%, but the bulk of swing speed is detemined by footwork, turning in with your swing (using mouse and arrow keys). So 133 is more than enough, you could even drop WM to 2 or 1 and put the points into shield if you find you shield is still breaking too much.
With low PS, you definitely need a pierce weapon, with your lag you need a fast weapon too. So all signs point to you using a pick. Obv a steel pick will hit hardest, but it's a very difficult weapon to use, San makes it look easy, but you really need excellent footwork to stay in proper range for a 64 length weapon. If it's not working for you, try a fighting pick or military sickle. The 80 length of fighting pick could make a world of difference. Also try out the mace family, flanged and wing mace are nice fast weps. You might wanna carry an axe too, perhaps a one handed axe or just even a hand axe. You can pull it out for cloth/leather targets like archers, and also to break shields.
Your playstyle will be to avoid thick fights. You will die fast from random swings (both team and enemy). Since you are newish you might want to avoid 1v1 also, ontop of not being very good yet, your ping is an extra handicap to dueling. So basically use your speed to find lighter pockets of fighting, and help teammates who are already engaged 1v1. Use your speed to get on opponents' flank/rear and go to town, don't attack frontal beside your teammate. You can trying using your speed to harass archers, although watch out cuz some of them are really good at melee also. At least you keep them busy and off your teammates though.