I just tried one of those VPN service (I won't name it), it has a free trial. I went from 320ms stable to 308ms very unstable (spikes at 700+ every 2s). Note that the closer server they had for me was about 10.000 km away from my home. And that's direct distance, the real distance being probably more like 16.000 km.
Conclusion: not good for me.
For pvp, high latency just make things impossible. I'm not even sure predicting the movements works correctly in this game. It failed so many times for me even if I predicted correctly.
When someone is running away from me and I sprint to him, I can follow him and actually touch his body (can't get any closer) but if I try to hit, I miss. The reason seems to be that when on my screen I'm right behind him, on the server side I'm 300ms away from him (a few meters), so I can't reach him with a melee weapon. But the twist is I can't get any closer as my game client refuses to let me go 'through' him: I will just bump onto his misplaced body. Even the bombs at start in Malice are a big challenge for me, and their movement is extremely predictable (straight forward, constant speed)...
It's hard for people like us, the poor guys with a high latency, to realize how the game is much easier with a decent ping. It involves moving to a better place. But it's very easy for you guys with 50ms to understand the issue: just make a socks proxy to a friend's computer, then you will enjoy AOC with a 500+ latency