The Hunting Lodge's Wertez tries to chart how latency effects hunter shot rotation. Surprise! DPS is effected by lag....
http://www.brigwyn.com/2009/06/24/1261/
UPDATE: Wertez has added a second posting about lag/latency with strategies to minimize any latency you might get in-game with hardware and software and addon tweeks. Note that his tips are for Windows machines mostly.
http://www.brigwyn.com/2009/06/25/where-does-lag-come-from/
UPDATE #2: Wertez demonstrates the use of Traceroute to check your realm latency and to look at latency of various realms if you plan a transfer.
http://www.brigwyn.com/2009/06/28/how-many-hops-does-it-take-to-get-to-the-tootsie-roll-center/
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