Can using a vps with TD thinkorswim eliminate the current lag issues with them?

Yes, markets are busy, and the 'free' platforms like TOS or TS are chronically oversubscribing. Throw in Charles Schwab, the merger, and the next 2 years may be rather feverish on the TOS side. I use it myself for my homework and I like it.
Your hardware looks fantastic, at least, for my primitive needs it would be an overkill for the next decade (if I live that long). I met big, well capped and very experienced traders, who use TOS -- for homework only.
 
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