Thank you all for the info!
The problem is only when I am in the cockpit and is immediate, not over time.
The blocks only flicker on the horizon, the water(which looks awesome BTW) and the sky look OK. The problem doesn't improve or worsen over time. The menus run fine.
Here is the requested GPU-Z snap, thanks for the time and info FFCW Urizen.
I really hope its not a hardware problem. No other game suffers any issues and I run them all at 1680x1050, including FSX.
I have e-mailed Ubisoft support without answer yet. I'll keep you all posted.
Thanks again!