Blinking Textures

I dont have the newest machine by far, but Ive always been able to play on lower settings with no problems at all. After the latest patch, I started having all textures and shadows blink (not flicker, its a timed blinking)
I am running Win7 AMD FX 4300 quad core ~3.8ghz, 8g Ram, 24g dedicated virtial solid state ram (32g total) Nvidea 9800 GTX+ (only 512 mb ram tho… I think 3.5g shared so 4g total … Im sure shared isnt very effective, processing and transfer speed prolly eliminate any benefit other than running out of memory) If I enable procedural virtual texturing, it goes away and my FPS craps out. Ive tried every other setting/slider and windowed/FS and different resolutions. Native res is 1920x1080.

I think there are some problems with textures. Others have reported vanishing textures, I’ve seen the blinking, and now I’m seeing bright flashes on occasion when flying around the map.