I learned how to project an estimated area of movement. If it fell into a straight line fight, the target was usually an inch ahead of the actual ship. Worked almost every time.
Yeah, there was that rule, then I also used to try to find the actual target by pseudo-randomly spraying space with flameII's, stingers, and laserI shots... all the while spamming the 't' key to see if the enemy was actually taking damage. Worked pretty well as a strategy, as a general rule.
The horrible thing about the lag was if you spammed your laser, even if it wasnt firing on your screen, if you were closeby, it would be on theres due to it upkeeping every single thing you do on everyones client. I remember doing about the same setup as that as well, rapid firing and spraying all over if you couldnt hit them by firing 'in front' to compensate for lag was pretty good ;P