Like we discussed already frame dependant fighting games are not meant to be online just yet. I am assuming that local vs local would work out better but how much is questionable. My experience was basically things came out a half second to a second after i did the moves. Combos were near impossible to land comfortably, this is pretty much in the same boat where as DOA4 where there are things that work online that are impossible in offline play.
Conclusion - if you are a "serious" tekken player and you want to improve by playing comp from abroad then this is probably not for you, if you just wanna play casually and don't mind having to change your offline playstyle to accomodate the delay online then by all means go ahead and play it.
If you had T5DR already the 10$ update fee is worth it just for the much needed practice mode.