I copied the 0.5.8 zip's to 0.5.9 with no change.
What you mean by "no change" there? I assume you mean the same performance problems arise. If this is the case means it's not the new art itself to give you problems, but potentially other changes to Planeshift client (example shaders definitions) or CS itself.
Now keeping 0.5.8 art into 0.5.9 :
1) Check how much free ram you have when PS is running. I see you have 4Gb total, but I need to know how much is free.
2) Check if the lag happens only on large maps, or also on small ones (like a guildhouse). Or try to find any other recurring pattern, example: lag only when many chars are on screen, or many objects, or large maps, or reflections, ...
3) try to copy data/shaders and/or data/shader-snippets from 0.5.8 to 0.5.9 . If it doesn't crash (may be completely incompatible) check which perfs you have with that, and we may be able to identify what's the problem.