Yes I understand it's Beta, and yes the E6600 2.4Ghz is well bellow the recomended processor. It is, however, well within range.
I'm determining this as processor lag because I note the lag spikes accompany spikes in CPU performance up to 100% as noted by the Windows Task manager.
Graphics settings are toned down as low as can go, though the gpu is well above even the recommended specs. Multi-core processor running is enabled, and no CPU intensive applications are running in the background. It is note worthy that this lag is significantly more intense when controlling my character as compared to when controlling my ship.