Let's just put it this way - I think you'll be more happy with it when you have an '030.
As it is that poor 68000 is getting a little overworked! It was never meant for true colour displays or even 256 colours.
The Picasso II isn't a fast card. I have one in my A1500 (68030@50) though as it's quite fast enough for most things. I use it on my Sony Bravia 40" TV, but unfortunately it just doesn't have the chipset speed to do a 720p display, so I have to use 800x600 (16-bit). Still waaay better than OCS though... at least when you have a 68030!