You don't need AA or AS, nor do you need isanely high settings to get this game to look good, and run smooth. Simply make damn sure you have ONE video card driver installed, recommended would be the Omega drivers, and have the first three options in video, set to high, and play around with the rest.
I'm able to get 30-60fps at all time, even when I hit 30, still very playable, and aside from that, game runs fine. Before my format though, I was getting maybe 12fps in the game. I formated and learned that, if you attempt to remove a video driver, and install a new one, conflicts occur, that royally screw up BF2 graphically, and framerate wise.
It tends to drop when 64 people are playing at the same time, and when consistantly looking at huge masses of smoke or fog. Lag in the framerate is also noticable when using a plane or tank, for the first 2 seconds. Still, I deal with it. My notebook is no where near what is recommended to play BF2, but as I said, I make due.
Somtimes, you just gotta sacrifice visuals, for game performance.