I have to agree, it's not the best and it has its annoying moments but I wouldn't say the game is unplayable. I had a friend staying in Reunion for a few months playing on a laptop which lagged on the lowest graphics settings possible and he still did more content than me with bad connection speeds.165ms is not that bad of a ping time in all reality. you should be able to play fine at that speed as long as its stable @ 165. Maybe not pvp so well but certainly still a playable game.
http://youtu.be/Ov3B26h12C4