As a horse lancer using this it is incredibly situational which is why i carry other weapons as well. It tends to be a bit unwieldy and the hit-boxes on it seem a bit off to me, but that might be a lag issue to do with the speeds I go with my courser (Sometimes i see the tip go through someone). The cooldown timer is ridiculously long and other cav easily dodge it. It is a weapon build almost specifically for anti-archery which currently is a problem because of the archers damage nerf. But if an aware archer stands his ground and can count a hit on either the rider, or the horses head while the horse is at full gallop trying to one shot the archer, the speed bonus seems to make that a 1 shot kill, at least in my experience (and if the archer is at least in his 20's for levels).
I am unsure if this speed bonus mechanic actually works in this fashion, this is just my personal experience with being one shot, or having my horse one shot from under me by an aware archer. This also assumes that due to upkeep these horses are the unarmored variety and the riders are in medium mail with a mid tier helm and the archer lands a decent shot.
I was actually thinking about downgrading down from the long to the regular great lance because of these hit-box issues and how unwieldy and slow the mechanics of it seem to be. I think the length is both a strength as well as a weakness and it takes a lot of practice to get good with the weapon, but i don't feel that it is so imbalanced that it needs to be removed. I would be willing to accept an increase in price however.
Before calling for a nerf because you died x amount of times from one type of weapon, make an alt and try it out for yourself, that's what I do and it makes you gain a real appreciation for how other people can get really good with their class setup.