SEVERE Graphical Problems

[WitchdoctorDan]

Today I decided to go after some quests, which I should because I hardly ever do. So I went out behind Tortuga to get the not-so-elusive Man-O-War. I was wondering why I didn't see anything, Until I was rudely fired upon by none other than a Man-O-War. Problem is, I didn't see him. Heres some screenies. Ships and islands are invisible if you don't get close to them as you can see.

The Man-O-War
Attachment 3513
There it is fully invisible
Attachment 3514
It applies to pirate ships, too
Attachment 3515
Invisible broadside
Attachment 3516
French Island \/
Attachment 3517

Anyone ever come across this? It should probably be fixed ASAP, just because it is so annoying. However, it was fun for the time being.