The local impressions are saying SF4 quality, and playable. Most of them aren't too happy about it but it's not so bad that they're saying SNK is doomed, like they were thinking. I think much of it comes down to what you expected.
SF4 quality is what I thought we'd end up at, so if that's what we get, I'm not going to grumble much about it.
Ultimately, whether I stay in KOF and 2d fighters is going to depend more on my own abilities and efforts, and not the netcode. That said, a playable netcode is the best practice I can get when it's 5am, I feel like playing, and it's really rude to call someone at 5am just to play videogames.