After playing some ranked for awhile, it's not too bad. At the moment, matches kinda take awhile to find, but at least you can what your opponents D/C % is, his ping, and his rank. If it could just find matches faster, it would be really good (the whole NAT thing kind of takes awhile to come up sometimes... could be me even though it's green). As long as you get someone with a good connection, GGPO works pretty damn good compared to other game's netcode. I kind of like that you can't choose ANYTHING when it comes to ranked. Much harder to cheat the system this way.
It's also kind of funny to watch people try to play it like Street Fighter 4 and fail, miserably. At least it's easier to get your achievos at the moment =P