In the new update (1.7.2) My game seems to run just fine. No lag or any other issues. then out of nowhere the surface textures will all disappear. I've attached screenshots.
Environment
Windows 7,
Java Version 7 Update 45 (Build 1.7.0_45-b18)
8GB RAM
1.8Ghz Quad Core Processor
Duplicate of MC-35881 - If you have not, please use the search function in the future, to see if your bug has already been submitted. If you could not find the original report, please comment with the keywords you searched for.