Ping an lag have been big issues of mine on warbands as I live on the east coast a desolate dessert of server
My internet is very fast but I usually have ping from 100-115. On previous patched my ping would go down to like 80 but that may be because of the servers rather than the netcode.
In terms of lag, it is noticeable. This game is by FAR the most ping sensitive game I've ever played. This is not necessarily because of badly written code or anything, it is in some ways the nature of the game because it's melee and so timing reliant. I mean you have to admit, much of the game is about timing.
I do notice a serious effect of ping. It's not visible lag, the devs have done a great job of ironing that out with good code writing
But there is only so much you can do with smoothing out the graphics lag because the actual time it takes for your attack or defense to register is a constant. This is what ping affects, the ability to recover and swing quickly or block without predicting half the time.
I have found a very distinct effect of ping on my ability to play. People are able to spam me out easily at 100 ping because even though that isn't a lot as was said in other games, here every millisecond more of reaction time with put someone at a serious disadvantage. This is just fact, and as someone always playing with a pretty high ping, I can notice it in my opponents too. I'm always watching pings on the score chart. And I have found it is MUCH easier for me to beat someone with a ping of at least 100.