I would bet that the problem is yours. Looks like your PC is having resource issues. I bet you have skins turned on so when you get close to another plane with an nonstandard skin you PC struggles to load it causing you to see him warp. This is why they start warping when you are close. You should uncheck skins and see what happens.
Yea, it could be that you are running out of memory. I has happen to me with my old computer. I had only 12% memory space left and was warping really bad. Now that i got a new computer, i do not warp anymore, well, may be a slight hick-up once in a while.