There's too many conquerers running around. 

The game mostly geared to run into a large amount of guys and start lopping heads off.

I get pretty bad lag spikes at times, where the game will be unplayable for a minute or two. This happens maybe once or twice an hour. The framerate drops a fair bit every 10 minutes or so, usually still playable.

Yeah. I think everyone has that problem for the most part. There's some pretty helpful stuff on the beta forums to minimize that.

I have yet to try any PvP

The only problem I had with this game is that it took me about two hours to finish quest in White sands because of everyone just camping the zone and Pking anyone who entered.