It is normal for players with bad latency to have a disadvantage but not normally to this extent. Some classes are just pointless to play with lag. It isnt much fun when your "Rapid" fire as an Archer takes 2-3 times longer to fire off than other players because each shot is handled separately with 200ms delays inbetween.
Sadly I can't see the netcode ever getting changed but us laggers can dream.
Wish we could shrink the distance between the US and Oceania, I wish.
The advantage of having a high ping is that nobody can hit you if you try to avoid. It is a tradeoff that your attacks are slower.
Top 10 Advantages of high latency:
1) Sometimes you'll just hit loading screen instead of seeing yourself die.
2) People never have to ask more than once why yer such a horribadie.
3) You can watch TV while you autorun back.
4) You can make a sandwich while you autorun back.
5) You get to use the Autorun feature.
6) When people laugh at you and taunt you most of it is lost in loading screens.
7) You never need to worry about what to spend your money on. You just buy stacks of crystals.
8) People feel bad for you instead of gkick you.
9) Griefing the retarded guy gets boring so eventually no one will mess with you.
Your best bet is to look into proxies. The lowest I've heard of from oceanic to us was 50ms to a WoW server. I don't know which services are best for it,or much about how they work.
The basics though is that they can reroute your connection to get you from A to B faster. Like using a toll road instead of the back roads. It doesn't work in all areas though, and if your ping to them is bad it won't get any better.