Finally put in my stick and put this port for a spin. Now I cant make the most accurate comparisons because I play USF4 on PC with a monitor with 2ms delay vs my TV which has probably 3 times that amount, but training mode definitely felt a lot laggier in terms of inputs. It wasnt that bad for tight links that require very quick timing, like for example Oni FADC combos, which I was able to get multiple times immediately, but for links that require you to wait a bit before inputting like e.Ryu's c.mp after his axe kick or yang's cl.mk, dash, ultra 1 combo, it was very noticeable. It was also pretty noticeable online too, as it felt like I was playing online on PS3. The netcode itself was pretty fine from the 5 or so matches I played, but because of the additional input lag it just felt like I was playing underwater. Remove the additional input lag and 4/5 matches I had wouldve felt extremely responsive.
All in all, I really feel like this game can be fixed and not in a very long amount of time either. The other problems that have been posted like graphical bugs and FADC combos not working properly I never came across. People talked of e.Ryu's FADC combos not working properly but I could do his c.mk xx fireball, FADC, s.mp/c.mk, lk tatsu xx hp DP combo just fine. I didnt test FADC off lk axe kick though, so maybe that's the one that's borked. With those graphical/animation/sound bugs not being the same across all consoles, it probably means that at the very least the problems arent deep enough that the game is beyond saving.