I think that Scott Hartsman exclaiming "Look, ocean spray!" is funny enough that I don't need a humorous byline.
MMORPG.com had a chat with Scott Hartsman at E3 and spills the EQ2 related results for you.
"Look! Ocean Spray!" Exclaimed Scott Hartsman, Sr. Producer of SoE's EverQuest II. I watched the ocean rise and swell in the Timorous Deep, the Sarnak starting area, smash once again into the outlying rock, spraying water droplets across the screen and turned a skeptical eye on his shiny pate. "Yeah? And what did that do to your frame rate?" He laughed, "Absolutely nothing! We're just running on regular Dell XPS machines." He did allow that they made sure that the machines had 2 gig of RAM. Scott looked for and showed me the frame rate. "Look. We've got 52 FPS at this resolution." He waved a hand at the wide-screen, then took the last bite into his lunch and excused himself. I hopped onto his stool and opened up options. True enough. Max graphics and lighting resolution, at 1680 x 1060, with 80% rendering distance. No graphics lag.
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