No I very rarely get video problems and my FR are pretty steady in the 70-75 range. My video card is about 3 or 4 times better than yours.... acording to Toms Hardware .com video card benchmarks. So that might be where you fr problem is.
AGP cards are a dieing breed, but they are not going to be dead next week

The new wave is PCI Express, and eventually everyone will be using them, but not for a while yet. With the CPU and MB combonation you have you should be good to go for awhile... a year or so. Drop in a Radeon X800 XT 256 AGP card (about 10-12 time better than yours), and another gig of ram and your computer is right up there with the top dogs.
The connection on the other hand is something you have to worry about alot more. Packet lose is a big problem. You fire your guns at an x,y,z co-ordinate, this info is set in a packet to the host computer. But oh wait, that packet is lost in transit, host computer DOSEN'T score any hits for you. So you "see" rubber bullets.
Run a virus scan. If you don't have virus protection (shame on you!) go to
HouseCalls Its a free on-line virus scanner that work thru your browser and does a pretty good job and is very helpfull when it comes to removing viruses. Run
Ad-Aware Then run the ping plot again. You said you use FSAutoStart....best little program ever!... before it launches the game how many processes do you have running? I think I have 14 on miine. Another thing you can do to check is to log in the game, use
to drop to the desk top, hit and click the processes tab. Aces High should be using 98% or so of you CPU. If you see anything jumping up, other than "system idle processes" that could be the one hurting you. write the name down and check it on Google to see what it dose. Shut it down if you can, remove it if its a "bad one".