if server shows your ping as fine, you are suffering from FRAMERATE, which means something on YOUR computer is fubar.
Does your computer run hot?
Do you have over 2GB free space on your primary hard drive?
Yes, actually noticed from this and another mention,
had NVIDIA update waiting the whole time it was happening, but that turned out to be coincidence.
My comp has been pulsating (every second it like revs)
it has enough space and everything,
i think its all graphics card side.
i have the common un-fixed problem of my comp not reading it unless i turn it off and on literally 50 times in a row,
i imagine its tied to that.
but thanx to you and Vibe on IRC for clarifiyng its most likley hardware,
saved me a few days of messing around with it.