Admittedly, 150 ping makes EX-Shielding fairly difficult. Shielding is still easy enough, though.
Yeah, but anyone getting that kinda ping has to be playing someone in like, another country. I've never gone above 100 when playing people across the US.
I tried netplay with somebody down the street (we both have 5mb/s) and it was still horrendous.
There wasn't so much a general delay, so much as diagonal directions seemed to take forever to be recognized.
What did you have the delay set at? If its taking a while for something to be inputted it sounds like you're using something other than 2 or 1. Otherwise, there's something wrong with one of your connections. Though, if you're playing someone down the street, you might as well go to each other's places to play instead of worrying about this.
Also, on topic, if a person's getting owned by projectiles, keep on spamming them. There's no fault in using a dumb tactic if your opponent isn't willing to counter it appropriately.