Confirmed for 1.4.7 AND that the fixes suggested in the comments solve the problem.
Lag/stutter is more noticeable on weaker systems.
Mojang please review this as a priority as it hinders game-play significantly on some systems.
Confirmed for 1.4.7 AND that the fixes suggested in the comments in MC-560 solve the problem.
Makov Denric
Confirmed for 1.4.7 AND that the fixes suggested in the comments solve the problem.
Lag/stutter is more noticeable on weaker systems.
Mojang please review this as a priority as it hinders game-play significantly on some systems.