I've been getting bad lag too, and all of it server side too. One thing people need to always realize is there are two types of lag, Server and Local (PC)
Local is basically what everyone thinks of as lag, frame-rate drops mainly though freezes also.
What people don't normally think of as lag (and is what is basically going on right now) is server lag. Server lag is when you hit a hotkey and it doesn't take immediate effect. Or you type in somehting and it takes like 10+ seconds (well ok actually a bit smaller time but for this 10 seconds is fine lol) for it to register. The game hanging on some action but you still being able to move is also mainly server side.
Earlier today I actually clocked one of the spikes I got with both hanging on a spell, harvest, and also chatting. I got a high of over TWO MINUTES (like 2:03 I think) on chat at one time from the time of hitting enter to it going through. The lag is way worse then yesterday... and it is Sony's fault. They borked something and haven't fixed it yet. My connection outside of EQ2 still runs very fast. So it isn't anything on my end.