Thanks, rsvp.
The ping slowness sounds odd, we don't do anything special there so I'd expect it to be pretty much the same as your instance. Not sure what the problem is there, we'll investigate.
The console lagginess -- well, there's a certain amount of overhead in the web-based console that's just inherent in using WebSockets and JavaScript, so that will probably never be as fast as ssh. But it should certainly be faster than it is. Right now we're having a few scaling issues as more and more people start using the system, and we need to work out some better ways of isolating stuff so that one person's heavy use doesn't impact others -- especially so that people using ssh (which after all is a paid feature) don't get hit.
Rest assured that sorting this all out is our top priority -- we can't expect people to want to use our service if it's too slow to be usable! And 300-baud modem speed definitely isn't usable unless you're doing 80s-retro development ;-) Normally it's much better than that, though -- I suspect that the time you saw that was when we were slow because of other stuff happening on the server.