Well, for the past few weeks I have noticed (before and after patch 1.0.7):
* When I first get into a game, I'm instantly on between 200 - 250ms latency; as opposed to being in the red for 1-2 minutes and then working up to green latency.
* Latency is about 95% stable, with rare spikes into the orange where I'll notice lag.
* I haven't really noticed rubber banding lately either...
Don't get me wrong, 50ms latency is a lot different to 250ms... but under 300 and stable is playable, so thumbs up to Telstra and Blizzard.
My mate is on internode, and after whinging that his lag was high, found his modem was set to modulation ADSL2+. Changing this back to ADSL2 saw his stable latency return in game.
Hope that helps someone experiencing bad latency.