Generally I find the updates good. They should do something about the matchmaking-system, as it is flawed (at least on the 360) if you're a party of 2+ wanting to play together.
High latency is hard to fix, but I generally think the hitboxes are working "ok" if the latency is low. Watching kill cams in a match with high latency shows how much latency matters - you can really tell how the person killing you were presented with a situation very different from what you were shown.
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