I currently find PVP unplayable, even though my ping is quite low, both in game and when testing the traceroute thing suggested elsewhere on the ping I get from chat.
What is making me unsure is that we've had some issues with our ISP lately, so I don't know if it could be related to that or if this is some outage on Anet's end.
When I play PVE it's ... less pronounced, but in PVP it becomes very clear. All my abilities fire off 4-5 seconds after I press the button, characters rubberband around and it is impossible to accomplish anything except waste 5 minutes of my life or abandon the game. Either way, I end up a detriment for my own team.