I don't know if I believe the whole Elizabeth-has-feelings-for-Jack thing. It's just a personal opinion, but I got the impression that what Elizabeth really wanted most was "freedom", and she sees that in Jack. Jack means freedom to her.
And also, I don't want another Disney love triangle *hates Disney love triangles*.
That's kind of how I see it. I think she lusts after him to an extent because he represents all that is dangerous and immoral, and she has that fascination with pirates we see in the first movie.
However, while I feel bad for Jack, poor Jack, what about poor Will? He has no idea that she did it to save them all. She was upset and crying. It seems to me like Will saw it, thinks Elizabeth is in love with Jack, and that's why she's crying because they actually don't -know- she chained him up.
I see him as a very noble character. It's obvious that he's crushed at the end, and yet he's STILL so willing to get Jack back, seemingly for Elizabeth, since he goes to address it to her before he's interrupted. *pets him*
As for Tia, I never got the impression that she was old. Ageless, perhaps, but not old. I like her. She's awesome.