Well, I live in a fairy land far away from civilized places, so it's 160+ on EU and 250+ on NA for me. That said, I do pretty fine as a 1h/polearm medium cavalry - nothing fancy or, God forbid, anywhere near the top of the scoreboard, but it's bearable. Just have to begin stabbing a bit earlier.
Also have a 2h alt. Well... I can't usually beat a good 2h with lower ping. Archery/Xbow-ery (-manship?) would be fine if I didn't suck at aiming.
As somebody else has noted, shielders and cavalry are the best bet for those with high pings.
...Then again, I just remembered a person called TooSexy from the old days, who had like 300+ and just waved his bardiche around, usually ending up pretty high on the board.