I've been having serious connectivity issues with ICO very recently, most likely due to the 1.33 update that was just released: I've been getting intermittent lag spikes of 20,000 or so, freezing the entire game for a time, before getting back to normal. The same thing's been evident in the lobby: when I log in, it often takes like 10 seconds for ICO to successfully display that I'm in the lobby... and it can take a similar long amount of time when I change an game setting option, like race or team.
This doesn't always happen - sometimes it responds pretty normally, at least for a short period of time - but this hasn't happened to me before, and started happening just as the 1.33 update was applied a few hours ago.
I'm not sure if it's a problem with my ISP or with ICO, but based on the timing I would guess ICO... has anyone else been experiencing problems?