Weird Network Lag Problem

[Rithraem]

I'm experiencing weird, frequent lag that I can't seem to figure out.

Every 3-5 minutes, my character will start behaving as if I'm going link dead (if I cast a spell, the bar will move but no spell graphics or actual casting), and after about 5 seconds or so, he'll snap back and cast or whatever. It also updates his positioning so other people will see me warp to wherever I was standing on my screen.

The weird part about this is everything else is moving and acting in real time. I can see mobs hitting me wherever they think I'm standing, I can see my friends attack, talk, etc, so it's like only MY character is lagging. I can't do anything in those few seconds. It has gotten me killed a couple of times.

FPS is solid. No issues whatsoever there. My lag bar is always full and green.
I'm running Win7 64, no compatibility modes.
I feel 99% sure my connection isn't dropping, and I've never experienced this problem before anywhere else.

Any help is greatly appreciated.