SpyDoc - Read my reply to BirdDogICT above.
But just to expand on what I said - YES, you do most certainly need CPU slowdown programs, but even they aren't really enough for todays PCs. You may also want to turn off a core (if you've got a multi-core processor) and game stability in Windows 7 is questionable and a lot of people - me included - simply cannot get the game to run for any length of time before a game freeze or crash.
Rockets will no doubt still be a problem even if you slow down the sim enough for everything else to run properly. I personally don't use HE rockets anyhow. Can't you just hover and use MPSM rockets? You get a much better hit ratio as they have like a downward shotgun effect.
I should be doing an article for SimHQ sometime soon on LB2 with modern systems. Keep an eye out for that.
For now, further reading:http://digitality.comyr.com/flyboy/lb2/setup/multi-core.html