Wow @ all these people saying 3 digits is too high.
Maybe it's just Australia, but for me, if I can't get an Auzzie server with ping in the 50-100 (really good), then it goes from 100(good)-200(not that great) and if it's above 200, unless it's a slower game (ala ArmA etc) no.
I don't know about anyone else, but to me, either I have lag or I don't. I really don't get degrees of lag, especially with TF2. And I can't NEVER notice the difference in my play from 50-150 ping. 200 I start to notice the lag of other players, but from 200 up is the actual lag.
It's kind of funny, playing CS:GO recently I have met the same people in random games many times. Hell, I've even played with a guy, gone back 30 minutes later and then played in a totally different game with him. The Auzzie gaming community is pretty tight nit and filled with just Auzzies, because the next best ping is up in Asia, then America.
I legit met people on my friends list just at random in games of GO, and my friends list is tiny. Like, 3 friends that play GO.