I've given it a shot now and it's not so bad. Maybe it's because T2 is dead and the lag comes from the amount of characters in T1. In any case, it's bearable in T2 and presumably onwards.
Dusted off my old subscription, did some questing on my Chosen and he's now R16 RR11. Nothing like grinding five ranks of Renown while trying to avoid ranking out of the gear you need the Renown for.
Despite the various flaws that make the game look like a beta build some two years into release, it's actually pretty captivating. Like I mentioned earlier, I love the Warhammer universe and after playing Dawn of War and Mark of Chaos, I really wanted to stay there. So far the Chosen is the one that appeals to me. Always did want to play one of those huge, ironclad Chaos warriors as seen in the Mark of Chaos intro cinematic.
The Ravage + Twister combo is kinda not so fun, though it does open up for a lot of "fun abilities" in PvP (or RvR, whatever you guys call the scenarios). While my Black Orc was busy trying to keep track of his Plans (hopeless when you need to use some random ability just to unlock the ability you need), my Chosen just jumps in with Twister, spams Ravage until stuff dies and then punts a random Shadow Warrior (because I hate them) off a ledge and into the abyss.
Good times all around.