This service, lowerping, has a fee (about AU$8 /month for US servers) but is both legit and effective. It uses routing, tunneling or VPN services to notably improve your latency when you’re on a US or EU server but are geographically distant; like in Asia-Pacific or Latin America.
Reports there are of Australians going from 400ms down to 170-200ms ping, for example.
I tested it myself Sept 4 2009, and from the UK playing on a US server went from 400ms down to 180-200. Impressive.
For other latency and FPS tweaks read my longer post.