I'm itching to write a rebut right now, but it'll have to wait due to homework, expect something from me later on c:<
In the meantime, please read this quote from our Development Team (specifically Devin)
"To everyone saying, “Just return to 1.7!”
First of all: we have no reason to believe that 1.8 is the culprit behind the most common issues described below. Many of the glitches that have appeared were caused by the update, but do not appear to be directly influenced by 1.8; the fact that they appeared during the update that mandates 1.8 seems to be an unfortunate coincidence. And as such, those glitches should be relatively easy to fix.
Honestly, as bad as people claim 1.8 is, moving back to 1.7 would be a real mistake.
Remember that nearly all of the current bugs, glitches, and problems that everyone is upset about are temporary (and likely not even related to 1.8). Yes, it’s upsetting that things seem broken now, but all of those things will be fixed within a few days. But what we do not want to do is let all of the hard work that has gone into the update go to waste for the temporary comfort of a soon-to-be-outdated system. Things will improve with 1.8, but reverting back to 1.7 is a step in the wrong direction.
Mojang is not making their update release schedule easy on anyone, but their updates are mandatory and unavoidable. We are one of the first large networks to transfer fully to 1.8, but other networks are going to make the transfer too, and they will likely experience much the same problems as we did. No matter what, there will be growing pains. But we chose to adopt 1.8 early in order to get the growing pains over, and thus allow us to reap the full benefits of a stable 1.8 sooner rather than later.
Remember what I said earlier: large update comes, large updates cause temporary problems, devs fix the problems, everyone enjoys the update afterwards."
So what, you can't block-hit and people aren't as obviously red when you hit them, all things take time for adjustment, and in the long run there won't be much of a difference.
Regarding your lag issues, turn on VBOs in your video settings. Plus, all new versions are laggy at first. 1.7 was like this in the beginning as well.