i've played Playable games with 3v3 having 2 pings over 500! And two more at 350-450 with the last at 90.
Because it's p2p it can suck because one lags all players, but so long as all players have FAST UPLOAD speed then the game will chug along nicely, maybe a little slowed but nice.
Try not to think about ping so much.The ping is less likely to lag a game than poor connectivity. it's when a players connection shows yellow or red for too long upon joining. Or if they take longer than usual to connect to all other players. If there's proxies or nats that creates more issues so if I'm hosting I'll allow only 1 proxy or nat any more its a no play.
The game depends more upon data transfer rate and almost all people's internet connection has a slower UPLOAD speed than download. When communicating with some 5 other computers in a peer2peer connection download speed and ping are not the main issue; it's if your upload speed is not fast enough to handle that outgoing traffic. Also if people don't have firewall exceptions and port forwarding their firewall and router can slow or block that traffic making it impossible to play.
I've had 200ms pings lag a game, and 520ms not lag a game.
Also it matters not who is lagging; host or other - they will lag everyone. A host with a high ping lets say about 450 can still host fine so long as everyone else has good internet connections.