First of all.. Updating your graphics card is vital. Check the Nvidia website for an update if you haven't already. Make sure you select the appropriate series.
Oh, and here's the best bit..
I was lagging strangely a LOT during my time on "Low" settings.
Are you, too?
Then bear with me here.. Seriously, even if your PC is really bad, bear with me.
It's a bug, this will reduce your lag.
-Change your settings to high.
-Click Advanced.
-Disable the Shadows.
-Change shadowing from 3.0 to 2.0
Apply. Restart AoC. You will now find your game is far more amazingly detailed, and you will have barely any lag, if not none!
Hope I helped.
+Rep is appreciated, but I won't ask for it. Just glad to be able to hand out these tips.