Bugs

Lag
A lot of buggy behaivors right now are probably just the results of the lag. There are several things you can do to minimize your lag and make the game vastly more enjoyable. Lag is going to occur on either your client or the server, with different factors invovled for each case.

Client lag
If your machine/graphics card aren't powerful enough, your client may lag out. Go into the options panel and choose a lower resolution to play at and/or reduce the graphics quality. I'm not sure if there is a way to have the game report on the current FPS, but most modern video card drivers have a way of monitoring your FPS. Of course, there's the usual regimen of closing down all other applications. For the rich, you can always buy more RAM or upgrade your machine!

Server lag
If your server is lagging there's only one thing you can try, and that's to switch to a server with fewer pirates on it! This process is described here on the Maps page.

Menu lockups
Sometimes when talking to an NPC, you'll choose an option, but nothing comes up. You can't walk away from them, because you're stuck talking to them. If this happens, you can press ESC to release from them. However, sometimes pressing ESC will shutdown the entire game, but I can't find other way to disengage from them.

Weapon page disappearing
After awhile all pirates seem to get a bug where their weapon screen disappears. This is the screen that's supposed to let you decide which weapon is activated when you press each function key. Once this happens, you just seem to be forever stuck with the same weapons. Short of deleting the toon and starting over, I haven't found a way to work around this bug yet.