Well, as far as I can say the 175 patch really fixed netcode related problems big time. It seemed to be a bit slow but this was just an illusion like when the FOV was fixed for widescreen. After a few minutes you adjusted to that. I don't know why this got rolled back. My only explanations are either it was related to the database errors or the devs got intimidated by some forum reactions.
Apart from that I can't say how good exploits and cheats got fixed with that and I think no decent player can.
But yes... If this is all that can be done client wise we should immediately get to fixing the things mentioned above!
I didn't think they did roll back any of the changes to the net code.
The FOV was increased in patch #176 as people had complained about it in patch #175.
TERRA:
Master Netphreak : Rifle PE 70/65** | Netphreak : Rifle Spy 79/65**
Jedi Master Net : Gimped Blessed Hybird Monk 62/55**
Kid Net : Pistol PE 63/65** | Chuck Rock : 56/58* H-C tank
Dark Eagle : 73/56** CST Pistol Spy