Well, here in Brazil direct IP netplay seems to be really bad. I can't play with almost anyone properly, even if they live in the same city as me or in a 150 miles radio. Trying to play with ppl that I usually get between 15~30ms of ping leads to a game running less than 10fps from the very char select screen, lagging the whole computer in the proccess. Only one person who lives around 150 miles from me led to playable matches, with very little slowdown from time to time, and he's the only one that manages to conect decently with other players who live even farther (like 400 miles). It's like he's blessed or something.
Matchmaking seems to work much better, but it's hard to get a match that doesnt freeze from time to time. I have a capable computer and a 10mbps ADSL connection (with cable, not wi-fi), and everyone that I tried with had at least 2Mbps in similar conditions.
From what you guys experienced, does that make sense?