I call BS on anyone saying they are running playable framerates at 16x12 maxed settings.
Anyways, my lacking PC in my sig also couldn't handle EQ2 for crap and I have used both a 6800gt and what's current in my sig. The game is just a pile of crap and I find myself tweaking more then playing. Have't need to do that in years with any games.
Just cancel it and save yourself th grief. No more jumping through hoops and less headach. Maybe try again in a year or 2.