Well yes and no (for me at least). Public sucks balls, but doing wars is pretty fun, with no perks, killstreaks, attachments and etc. Though there is still lag, but it's pretty decent when fighting clans from the same country as you. I like how the battles (1vs1's) are pretty long (well.. longer then cod4 cause stopping power is disabled), kind of got mixed feelings, sometimes it's great and other times it sucks.
Anyways Black Ops will fix it all, it's like a mix of COD4 and MW2 which is awesome!