Only play people with 3 bars or higher in the game list. From what I have noticed the PC version will buffer an extra bar into the connection when you enter the lobby.
So 3+ bars is the happy spot for “MOSTLY” lagless play. You still get people with 4-5 bars who are fine, then start to lag when the match starts.
The bars only represent average latency, not frames per second nor lag problems.
As some users said before, you can play very well with someone with just one red bar (some of my own contacts display this only one red bar all the time and we play happily, how? we mostly play with DSL connections, usually high pings but stable transmission).
The problem of displaying “ping” measurements with numbers or colored bars is that it does not take into account lag.
Latency is having delay in transmission and Lag is having no transmission at all.
What do you prefer 150 ms stable latency connection or 75 ms but with interruptions of connection?
And something particular to add to this game, the synchronization to 60 fps, what if your opponent has the best fiber optical connection in the world that provides him stable 30 ms transmission to your house, but has office like computer that is not enough for 20 fps and has setup framerate:variable as it is the default config?