Do NOT believe anyone that tells you 250+ is ok, they are simply desperate for a game, and while I do have sympathy for these people, it's not fair to everyone else to keep perpetuating these false claims and having those of us who do have good pings, and live in the region the game was released to sit through laggy games.
I don't normally reply in threads about latency as they're usually asking the best methods for lowering your latency, of which there are no real solutions besides faster connections and limiting play to local servers. However, as this one is different, I read through it, and I felt compelled to give you a reply.
Firstly, no one has good or bad 'pings'. In my experience only people with a lack of understanding of the mechanics behind the networking of online games makes statements like these. Your visible latency is an indication to the distance between you and the person your connected to, however this is not the sole factor in play - just the most common and largest one. If your in America, for example, and you connected to an Australian game your 'ping' would be higher than everyone elses and possibly outside the acceptable range. You'd have the bad 'ping'. It's entirely situational.
Secondly, 'ping' is not the only determining factor in the performance of a game; in fact Sim Speed actually has an equal impact on performance in Demigod, as does the performance of all computers in any P2P based game. A P2P game can only move as fast as the slowest computer.
Thirdly, ones 'ping' is measured in Miliseconds, or MS, and as such in terms of performance anything 350 and below is quite acceptable, albeit not ideal. This is not Starcraft, Warcraft III, Counter-Strike or any other game - this is Demigod, and coded into the game is tolerance for latency of 350 and below. Anything above that and you begin to lose the ability to timely respond to the game.
Lastly, most people who post "120+ KICK" kind of games are American players who are used to having all of their servers local. For example, I'm Australian and in World of Warcraft my average latency was around 400ms as the servers are located in the USA. This wasn't just acceptable, this was entirely enjoyable without any noticeable lag of any kind. However, when talking to American players they revealed that their averages were significantly lower, down to as low as constant 150ms. It's because of this that they thought 300ms latency was bullshit and unplayable because it was significantly higher, as much as twice as high, as their normal latencys. They simply didn't understand.