I have tried every possible configuration with the settings and it still seems like it is no where near as smooth as it should be.
System Specs:
Intel Core i7 Overclocked to 3.4
Nvidia GeForce GTX 670MX 3GB
8GB RAM
I have arelatively low end computer. And my way around the freezes was a CTRL+ALT+DEL and go to go Start Task Manager (or CTRL+SHIFT+ESC opens it directly). Find Elder Scrolls Online, right click and choose Go to Process. Now right click on eso.exe and click on Set Priority and choose High. I found that removed my hiccuping. I figured it might be a background process taking precedence, and turns out that on my computer at least, it was.
For my Core i5 2500 and HD7950 the biggest hit on frame rate is view distance. I keep it set to 65. The second biggest hit was shadows. I turned them all the way down. Then I turned off grass just because I wanted to be able see to alchemy mats. I get between 55 and 100 fps now.