Not so great news: As we're fixing all of this it will take us longer to patch out the next update. The heavy lag spikes and zone crossing crashes seem to have been eliminated. We're wrapping up the teleporting fixes and still revising the terrain loading system. This is taking a while as it requires changes in our terrain editor and terrain baking system in addition to the server and the client.
Please wipe the terrain as well, so we know if this new/modified system is gonna work. Not to mention, every time you do an item wipe...you wipe the dirt I've saved and placed in bins, which is needed...but the dirt quarry is still in used condition, so no ability to replace the lost dirt.